This week, January 1-7 2017, is National Women’s Money Week #WMWeek17 and there is no better time to learn about, discuss, and attempt to correct the disadvantages that women face in the world of personal finance and in their own financial future. I think we are all quite familiar with what is known as the gender wage gap, the fact that women earn less than 80% of what men do. Equal pay for equal work is an ongoing struggle that is making just small inroads at best. You may be surprised to learn that the wage gap itself is just the tip of the financial iceberg that hinders women and their abilities, and potential for financial security and independence. The vast majority of adults in poverty in America today are women.
What causes the gender wage gap?
There are several reasons why women, even in the 21st century, are facing roadblocks to financial security and there is more to it than systemic sexism and discrimination (which certainly play a large role). Let’s look at a few issues first that are influencing women and their continued lack of financial equality in the workforce which hinders their overall financial wellbeing:Continue reading“Financial Security for Women: Closing the Gender Wage Gap #WMWeek17”