Financial experts will tell us that we should have our money work for us instead of us working for our money. How many of us really feel like our money is working for us? Like most people I pay for my monthly bills, hope to have a little left over to splurge, and then try to put some money away for the proverbial rainy day which usually turns into a biblical monsoon. As financial experts appear on the morning news I look the other way and continue to eat my cereal too intimidated to take charge of my financial well being. Well it seems I am not alone.

According to a USAA Magazine study in 2004, when Americans were surveyed to test their financial literacy the average grade was a 67 out of 100. In addition, many senior women were found to have had less experience conducting their financial affairs and had relied on their husbands to make long term investments. For many women as they age they suddenly find that they want and need to learn more about their financial options. Many women find themselves alone due to the death of a spouse or divorce. To fill this void Concept Partners Alliance of Burlington developed the Women’s Financial Anti-Anxiety Teas for women 50 and older who wanted to learn about financial decision making in an informal setting.

Janet Binkerd, an investment advisor, and her associate Michelle Lawrence developed a series of teas with scones, cookies, flowers, and gift bags. These teas unite groups of 6-10 women to go over their options. Women between the ages of 50 and 80 years old have been attending these teas over the last year. At these teas Binkerd and her associates go over a case study of a women who is dealing with the loss of her spouse and needs to make some financial decisions. The group discusses the decisions she made and if they were good decisions or not. By going over this case study women may see that they are in a similar situation and can begin to think of what would be good decisions for themselves.

Women pepper Binkerd with questions regarding wills, trusts, power of attorney, retirement planning, and long term care among other topics. Binkerd describes her job as,” helping people reach their goals in life, and achieve their dreams.” However, she noticed that women were very quiet in mixed-gender meetings and so the anti-anxiety teas were born. According to Binkerd many women were uncomfortable asking questions when men were around because they were worried they “would get the look.”

Together Concept Partners Alliance is reaching out to help women 50 years and older to understand what they have. According to Binkerd the real question is “not how much you leave, it is how much you get to keep. To understand where the money is and what buckets do you go to first.”

If you have questions about your financial well being, take a friend and attend one of the Women’s Anti-Anxiety Teas. A little bit of sugar will make it (financial planning) easier to go down.

For more information on attending a Women’s Financial Anti-Anxiety Tea Call 1-888-952-1170

Sarah Lemnah writes on senior issues for the Champlain Valley Agency on Aging. This article originally appeared in the Burlington Free Press.