Bureau of Labor Statistics

Financial Literacy: Its Importance in the (Woman’s) Future

April 22 150x150 Financial Literacy: Its Importance in the (Woman’s) Future

By Kathleen Brennan, 2013 Alfred P. Sloan Foundation Teaching Champion Award recipient.

It goes without saying that today’s females have career opportunities that weren’t available to them a century ago.  The statistics are impressive– according to the U.S. Bureau of Census, females make up 60% of college graduates and the Bureau of Labor Statistics reports that labor participation rates of females have increased from 32% in 1950 to about 57% in 2012. Women have come a long way. The good news is that women have made great strides in breaking the glass ceiling and closing the pay gap; the bad news is that they still lag well behind men in terms of financial literacy. Ignorance in financial matters is particularly concerning since women have unique financial challenges—while many women rely on their husbands “to handle the money”,  the reality is that 90% of women will be solely responsible for their finances at some point in their lives due to the death of a spouse or divorce (Gender Gap in Financial Literacy 2012). Clearly, a man cannot be a “financial plan”. Read more…

POSTED: April 22, 2014 | BY: Annamarie Cerreta | TAGS: , , , , , , , , , ,

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