Women are getting another way to learn about managing their money on Lifetime channel's “The Balancing Act.”
Starting in August, the show will feature Catherine Bonneau, president and chief executive of Cetera Financial Institutions, and Carina Diamond, managing director of SS&G Wealth Management and an adviser at Cetera. The co-hosts will discuss money issues and give advice for how women can plan ahead.
“I found it to be a very approachable format, one that you can envision that women would easily engage with for both entertainment and learning opportunities,” Ms. Bonneau said. “It just helps build awareness that women can exchange ideas for other women.”
In the segment, Ms. Bonneau and Ms. Diamond discuss issues women face when it comes to managing and planning their money, like learning how to prioritize themselves and taking care of themselves, as well as others, financially.
“A lot of women, I think, get paralyzed because they have a perception they may not be good with their finances when, in reality, women have pretty good instincts,” Ms. Diamond said. “Without a plan of action it's almost like you're giving up. We're trying to encourage women to build it.”
Some tips women can use to take control of their finances and begin a plan of action is to just write everything down — what you own and what you owe, Ms. Diamond said. Quantifying goals as much as possible is something else women can do.
“I would say if you're a woman and you're not involved in household finances, to start to get involved even in the slightest way,” Ms. Diamond said.
According to a
Pershing study on women and their financial experiences and behaviors, 80% of women will become fully responsible for their finances.
Ms. Diamond said talking about managing finances on the show is a way to extend help to those women.
“We have a huge responsibility to our audience of women,” she added.
The segment will air both Aug. 28 and Sept. 4 at 7 a.m. ET/PT.
(A previous version of this story incorrectly attributed the statistic "80% of women will become fully responsible for their finances" to a Prudential study. That statistic actually comes from a Pershing study.)
