Financial feminism is talked about more frequently today than in any other generation, but it may leave you wondering what financial feminism is all about. To be a financial feminist you need to be involved in your finances and have the power to make financial decisions for yourself. You make your own money, and you make choices about your money, and when you make financial decisions that support your financial goals and advance your financial security, you are empowering yourself financially.
Every woman should have financial goals for themselves and understand what they need to do and how they need to manage their money to achieve their financial goals.
Financial feminism is important because it gives women power over their financial future. When women have money, they reinvest that money into their communities to help others thrive, they support other women owned businesses, and they get more seats at the table.
The History of Financial Feminism
Historically, women lacked control over their own finances. It was as early as the 1970s where women could get a credit card under their own name – that wasn’t that long ago. Prior to that, women needed permission from their husband or male relative to apply for a credit card.
Today the challenges aren’t much different. Women are battling gender pay gaps and having equal access to financial literacy. Women are starting and growing businesses at an unprecedented rate, yet we are underfunded. Less than 3% of venture capital funding is going to women, and that number has remained stagnant over the years.
The message to women who want to build and attain wealth are told that they are being greedy and should only want what they need is still predominant today. When women talk about money it is still considered tacky, a topic that women should not be speaking of. We need to change these messages. Women have every right to pursue and build wealth as any man does.
What is Changing for Financial Feminism
Women have recognized the double standard that they are facing and have taken matters into their own hands. There’s been a shift in financial education and more women are stepping up and leading the financial feminism movement.
Financial tools are being built with women in mind. There are investment clubs for women, women led financial literacy groups, and financial tools built by women for women all in the effort to advance the financial security and future of women, and I am loving it.
The more women talk about money and wealth, the more women will build their wealth.
Women are still facing the cultural backlash of having more wealthy women in the world, and more power. However, we won’t let that stop us from continuing along with financial feminism.
The bottom line is that we need to support women. Women need to talk more openly about money: making money, spending money, and building wealth. Financial feminism is here to stay, and we need to encourage all women to learn financial literacy skills and support women in business.