While gender equality has come a very long way in the past few decades, there is still a huge wealth gap for men and women. Women currently make .79 cents per $1 that men make. They also invest less, have more debt, and are more likely to be impoverished. On top of that, only 30% of companies are led by women. This matters. A lot. Not because of “capitalism” or because women need to buy more “stuff”, but because financial freedom and literacy will help women stand on their own two feet, control their own lives, escape bad relationships, and raise their children in a healthy environment. Wealth is health.
It’s clear we still have a very long way to go to close the gender gap on wealth equality, but the path forward starts with awareness and educating women and girls early-on about business, investing, and financial independence.
Here are a few financial literacy resources for investing, getting out of debt, and maintaining/improving your financial health.
ElleVest is an investing platform created specifically for women. It’s very simple and straight-forward to use. You sign up and fill in your basic information (yearly income, location, age, savings account etc.) and it shows you investment options and a goal plan. You can invest as little or as much as you’d like and there’s no minimum balance. It’s an excellent platform that is comprehensive for even the most novice investor. www.ellevest.com
WISE, (Women Investing in Security and Education) is a non-profit that has been educating young women and girls on investing and financial literacy for over 20 years. They provide educational resources, outreach, business resources, and programs to help women and girls become financially free. www.wiseinvestors.org
DailyWorth’s mantra is, “Save more. Earn More. Spend Smarter.” They provide investment advisory, educational articles, retirement advice, family planning, and more; specifically geared toward helping women build their net worth and secure their financial future. www.dailyworth.com
LearnVest is another online investing platform with a wealth of resources. Originally it was specifically made for women, but now they have expanded to general financial advice. They have a plethora of information and comprehensive resources to help you navigate your finances. www.learnvest.com/knowledge-center/
Money Management Books
Educating yourself and gaining knowledge is the single best action to take toward securing your financial future. There are several financial literacy books out there that can help you gain the knowledge you need to build your career, get out of debt, and manage your money properly. Check out our article, 5 Money Management Books Everyone Needs To Read, to see a few of our top recommendations.