Introduction: Why financial literacy for women?
Women have made the remarkable strides over time to become some of the most powerful consumers and gain social and professional positions. However, they still experience too many demands on their time and money. Many are constantly juggling priorities at home and at work, all while maintaining social lives. They help shape the future of the nation, but many pay little attention to combating their personal financial challenges through life and into retirement.
This module discusses the overall financial status and life cycle of women and explores the proper approach to budgeting to eliminate debt and stimulate saving and investing. This module is designed to encourage women to use financial literacy as a tool to manage their financial resources effectively, thus reaching financial security and freedom.
According to the U.S. Bureau of Labor Statistics (BLS) Current Population Survey (CPS), in 2019, women in the US made up 51% of the total population of 328 million. In the US, 57.4 % of total women were in the workforce, but if they worked full-time, they only earned 82% of what men earned. However, the unemployment rate for women was 3.6%.
Also, women that were never-married had the highest participation rate of 65% in 2019. The labor force participation rate for women with children under 18 years of age was 72.4% in 2019. In 2018, more than 3.9 million women, lived below the official poverty line (5.3%).
This module is not to suggest that males are free of financial predicaments, but rather to highlight social, professional, and financial challenges unique to women. So, let's dive in financial literacy for women from the chapters below.
Chapter 1. Financial challenges specific to women
Chapter 2. Are student loans a women's issue?
Chapter 3. Top financial missteps women take
Chapter 4. Financial literacy strategies for women
Chapter 5. What can women do collectively?
This was made possible in partnership with The Singleton Foundation for Financial Literacy and Entrepreneurship. This video and more videos like this can be found on Millionstories.com Links to an external site..