Tag Archive for money management

How to Bridge the Financial Literacy Gender Gap

Image courtesy of [renjith krishnan] / FreeDigitalPhotos.net

Image courtesy of [renjith krishnan] / FreeDigitalPhotos.net

Women and money are daunting thoughts for some people! Images of closets or trunks filled to capacity with recent shopping items may come to mind. Whatever images appear before you, the reality is worse than the imagery! For various reasons, many women do not have a good grasp on financial literacy. Perhaps, that can explain some of the money issues that women often experience. I am not implying that men do not have issues with money. I am simply stating that there is a gender gap in financial literacy, and my theory is supported by a recent study from Financial Finesse.

I am addressing this problem because I feel that it directly relates to me. I was reminded of the problem when I received a Google Alert with an article that appeared in “The Huffington Post.” The article indicated that financial literacy for women is problematic worldwide! I agree with the article, and one of my goals is to bridge the gap of financial understanding between men and women. With regular posts on this blog and social media, I believe that I can start to make a difference. I am an educator, and I will utilize my training and skills to incorporate changes to my lessons.

As a business computer applications teacher, I teach my students about careers. My students have a good grasp on earning money, but they fail to understand other important skills. We need to change the curriculum; so, more students can gain a better understanding of how money works. Changes which integrate financial literacy into a business curriculum should help females as well as males. The changes must start as early as possible because many elementary to secondary schools do not offer financial literacy classes. Consequently, many children become adults with poor understandings of finance.

Teaching money management to young females is important, but teaching them how to make better decisions is critical. In addition, an environment where females feel comfortable to ask questions about finance must be promoted. A lack of trust in banks and finance professionals must be overcome. Reducing the easy access to credit-regardless of the country, should also help bridge the gap. I am just one person, but I will do everything that I can do to improve females’ financial literacy. I would like to see women and money in a different light!

Do you think that there are enough people interested and/or enough resources to bridge the financial literacy gender gap? Please share your thoughts. Thank you.

Uphill Battle with Love & Money

Image courtesy of [Stuart Miles] / FreeDigitalPhotos.net

Image courtesy of [Stuart Miles] / FreeDigitalPhotos.net

Do you remember what happened to Jack and Jill? It seemed like they had good intentions, but they were doomed from the start! First, people don’t typically go up hills to get water. Water is usually found at the bottom of a hill. Although the logic is faulty, I love this nursery rhyme! Many lessons can be gained from learning the lyrics. When I read a recent news story about Lauryn Hill, I thought about this nursery rhyme.

Lauryn Hill is an extremely talented artist who has mastered singing, songwriting, acting, and much more! She made her solo debut in 1998 after venturing out from the Fugees. I can vividly recall many of the songs of The Miseducation of Lauryn Hill. Her acting in Sister Act 2 has been viewed by people of all ages. For some reason, Hill has experienced numerous problems within the past few years. She had five children with her longtime boyfriend, Rohan Marley. Throughout their relationship, rumors persisted that he never divorced his first wife.

After reportedly ending his relationship with Lauryn Hill, Rohan married Brazillian model Isabeli Fontana. He also claimed that Lauryn Hill’s sixth child was not his. Her latest troubles involve tax evasion! As a result of not paying nearly one million dollars in taxes over the past ten years, a judge recently sentenced her to three months in prison. Despite paying most of the money to avoid going to prison, the judge did not relent. He insisted that she serve time for disregarding the law for so long. I am saddened by the turmoil that she is experiencing.

Lauryn Hill is a mother who seems to be very dedicated to her children. She was also scheduled to perform in a concert, and she recently signed a contract with Sony. I feel that her financial troubles are taking a toll on her talent. In addition, her emotional situation with her children’s father appears to be complicated. I hope that Lauryn Hill will get the assistance that she needs. Then, perhaps, her battle will not be uphill.

If you have dealt with tax issues and/or poor decision-making, please comment.