Take the Pledge!
Financial experts continue to mislead women into feeling that somehow financial inequality is 100% their fault. For years we’ve told women that if they’d check their credit reports annually, budget fanatically and stop lusting after shoes or sipping lattes twice a week, all their financial woes would go away.
That’s a lie.
Here’s The Truth
According to the White House, full-time working women earn 77% of what their male counterparts earn.
This means that women have to work approximately 60 extra days, or about three months, to earn what men did by the end of the previous year.
Additionally, Pew Research found that women were more likely to say they had taken career interruptions to care for their family. Research has shown that these types of interruptions can have an impact on long-term earnings.
Roughly four-in-ten mothers say they have taken a significant amount of time off from work (39%) or reduced their work hours (42%) to care for a child or other family member. Roughly a quarter (27%) say they have quit work altogether to take care of these familial responsibilities.
In the end, the typical woman will lose $530,000 over the course of her lifetime due to the wage gap; a college educated woman will lose $800,000.
Help women decrease financial inequalities by providing step-by-step, practical education on how to earn more money.
The truth is women find themselves in financial hot water for a host of reasons that have nothing to do with sipping too many lattes or buying designer shoes. Women earn less than men and have to stretch those hard-earned dollars further. They contribute more to caregiving and aging parents, live longer, and many are choosing to stay single …
Who is Patrice C. Washington?
Patrice C. Washington has dedicated her life to providing practical advice for women to better manage their finances and take control of their personal wealth. As a featured columnist, television commentator, radio host, author, and speaker, she is the leading authority on personal finance for women and students …