Great strides have been made in the rights and roles of women in today's society. More and more women are earning degrees, breaking into traditionally male dominated fields, and supporting themselves financially.
In fact, it is estimated that within a decade, women will control 75% of the consumer wealth in the United States. However, despite this progress, more than 41% of women still struggle financially-- no retirement plan, looming credit card debt, large housing payments, and dependents who need their support.
As we observe Financial Literacy Month this April, we celebrate the power of girls and women to determine their economic success.
At Girls Inc., we believe one key way to do that is to teach girls how to manage, invest, and save money at an early age. From early childhood to their teenage years, Girls Inc. girls also learn about the economy and explore renting/buying homes, picking a career, and using a credit card. These vital experiences provide girls with the knowledge and skills needed to make smart decisions for life - girls like Shantia from Girls Inc. of New York City.“
At Girls Inc. I learned about economic independence. It means you don’t have to rely on anyone. It means you know how to manage your own money, save, and budget. It means one day I could even help my aunt and cousins who raised me.”
Too often, girls are discouraged from participating in money management because it is considered to be unfeminine, and only for boys. Society constantly tells girls that men are supposed to take care of finances, making them dependent on others for their financial security. Additionally, given long-standing gender disparity in pay and income, it is also critical that girls be able to advocate for their economic well-being.
Financial Literacy Month is the perfect time to talk to a girl in your life - whether it’s your daughter, friend, niece, or student - about being financially savvy and confident. Introduce girls to smart money management by openly discussing family finances, illustrating money management through an allowance, or playing investment themed games. Let’s work together to ensure a future of economic stability for all - including women.