Women, Men And Money In The Age Of Covid
Moneyweave® Academy Offers Education on How Gender Shapes Finances in the Pandemic Era
EDINA, Minn., Dec. 2, 2021 /PRNewswire/ -- One silver lining of the pandemic is that over two-thirds of American women say they are more actively engaged in their finances than before.[i] The flip side is that female participation in the labor force has fallen to its lowest levels in decades.[ii]
How big of a problem is this? Since women face certain financial risk factors at higher rates than do men, the consequences can be significant. Among the risk factors many confront are underearning male peers, caregiving, singlehood, higher incidence of disabilities and longevity.
As women tend to live longer, they are more likely to outlive retirement savings. Older females have far greater (as much as 79% higher) rates of impoverishment than do males. Single, divorced, and widowed females are especially vulnerable. Leaving a job or reducing work hours further magnifies financial jeopardy.
"My mother has experienced every one of these risks," said board member Regina Barr. "I have seen firsthand the financial fragility that she faces. That's why the quality education and resources that Moneyweave® Academy provides are so critical."
These threats, combined with a lack of sound financial education are precursors to economic hardship. Since financial services marketing outspends financial education by 25:1[iii], the need and urgency for trustworthy, female-focused financial planning resources are tremendous.
As a nonprofit, Moneyweave® Academy is uniquely positioned to address the educational gaps that the majority of women face. The Academy's newest class, Women, Men & Money: How Gender Shapes Finances, is offered at no charge to give access to this essential information. Led by financial expert and Certified Financial Planner® Mary Quist-Newins, MBA, MSFS, the course will be held on December 9 from 1-2 pm CST. Registration details:
https://www.moneyweave.org/events/women-men-and-money/.
ABOUT MONEYWEAVE® ACADEMY
Moneyweave® Academy is a 501.c.3. nonprofit corporation with a vision to enhance the financial literacy and thus, the economic security of women and girls in the United States. For more information, visit www.moneyweave.org.
MEDIA CONTACT:
Chris Gosswiller
[email protected]
763-807-4632
Related Links
https://www.moneyweave.org
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i "The Pandemic's Impact on Women," Fidelity® Investments, 2020
ii "Women in the Labor Force, A Databook, Report 1092, U.S. Bureau of Labor Statistics, April 2021
iii "The CFPB Finds Financial Education Programs are Significantly Outspent by Financial Marketing," Consumer Financial Protection Bureau, Nov. 18, 2013
SOURCE Moneyweave® Academy, Inc.
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