A Strategy of Their Own?

Female heads of households (without a partner or spouse) could use a financial leg up, according to a new study from the Consumer Federation of America and Catharine P. Montalto, a professor at Ohio State University. The report showed that these women on average have one-half the median income and one-third the net worth of other household heads. As a result, says Stephen Brobeck, director of the Consumer Federation of America, many of them are likely to live on the edge of solvency. Women in these situations need financial guidance so that they don't miss out on the strategies that better-off people use to build long-term assets, like buying a house. Among the places women can turn to for information is the Women's Institute for Financial Education, which has a website at wife.org.