In honour of Women’s History month, I want to talk about women and the effects of being a woman on their finances. Even in 2021, women still make less than men. The wage gap in Canada is that women make $0.87 on the dollar as reported in 2020. Women are often financially behind because they take time off from their careers if they decide to have children, as well as choosing to be a caregiver to other family members. This results in women often having to make the decision of either to care for their family or pursue their career and the financial stability that comes with that.

Financial literacy for everyone is important, but more so for women. Many women have become widows and been left in financial ruin because they didn’t know what their spouse did with the finances. Women are often financially dependent on their husband, because of the wage gap and also because of not being taught about how money works. There have also been women that have had to leave an abusive relationship or have divorced from their spouse, which has  left them in financial discord because they were not in charge of their finances.

It’s soo important for women to be financially literate. It’s often said that if you empower a woman you empower a whole community. I believe that if more women were in control of their finances and were financially literate, things in this world would be very different. There would definitely be a power shift in this world.

Dear women,

You are amazingly created human beings. You are strong, empathetic, creative, supportive and ambitious. It is time to shine in all aspects of your life. You are worthy of achieving all of your ambitions, and do not let anyone tell you no. Take some time to equip yourself with financial knowledge. It’s time to #levelupyourwealth and be in charge of your power. In the words of Vivian Kaye, “What would Chad do?”

From your financial cheerleader,

Rochelle @ The Financial Fix-Up