Women’s attitudes about and success with money is something that has been researched extensively over the past several decades. Yet, women’s beliefs are often not in alignment with the facts. This is concerning because our money attitudes have a huge impact on not only how we manage money, but they also influence how we make financial decisions. Join this encouraging conversation as our guest, Victoria Sexton, dispels some common erroneous perceptions about women and money. Leave empowered by the truth. Then, share the episode with a friend!
(Victoria on the nature of money.)
In the United States, women earn less than men in almost all occupations. Female-dominated jobs such as childcare, education and nursing are among the lowest-paid in the country. Women who work in male-dominated fields often have to contend with a wider wage gap than men. Despite earning less, on average, studies show that women tend to be more successful at saving money than their male counterparts. As a result, they are more likely to retire with higher savings in their later years.
Despite demonstrating fiscal savvy in practice. women’s attitudes about money are not in alignment with the facts, and there are stark attitudinal differences between the sexes. Women are more likely to feel that they need permission, and men are more likely to feel that they are entitled. Yet, when it comes to the dollar-sign reality, women have a higher net worth than men do.
So, why do many women feel dis-empowered around the topic of money? Money can be an overwhelming topic for women. It is linked to survival and worrying about it can evoke feelings of shame, vulnerability or, worse, fear. It’s complicated. History reveals that throughout time money has been intertwined with gender norms and cultural expectations, often dictating women’s behaviors, status and, sometimes, their survival.
However, today, women play an undeniably important role in society and the global economy. One third of all CEOs are women, over 90% of all purchasing decisions are made by them, and they control $20 trillion in spending power. Regardless of these statistics, there remains a gender gap in finances and attitudes that is begging to be addressed.
In today’s episode, we welcome financial coach Victoria Sexton to the “tea” table to bring awareness to this issue with the intention of inspiring and empowering the current and subsequent generations of women.
IN TODAY’S CONVERSATION WE DISCUSS:
…And, much more!
Enjoy the “Tea”,
p.s. Need some incentive? Check out our episode on money and aging. “Crucial Conversations: Money and Aging”
“Give a woman a dollar, and she can put it to good use. Teach her about how money really works, and she can change the world.” -Linda Davis Taylor, CEO and Chairman of Clifford Swan Investment Counselors