Mother’s Day arrives this year amid mounting financial difficulties for women and girls. COVID-19 has driven millions of women, particularly mothers of young children, out of the workforce, leading to disproportionate female wealth loss and some of the highest unemployment rates for women seen in the 21st century. I’ve seen this firsthand in my work helping young people at Albert, a personal finance app whose customers (which skew 20-something and female) can text me and the other Geniuses for financial guidance. Since the pandemic started, I’ve gotten frequent messages from young women who are navigating unemployment or underemployment
In my experience, this is the age that kids really get into the concept of earning money themselves, if they haven’t already. They may be running their own lemonade stand (or neighborhood franchise?) by now or thinking of other things they could sell, whether it be personalized drawings, hand-drawn comic books, or colorful painted rocks.
My pre-teen nieces once set up a “store” full of their original artwork at my parents’ house, and you better believe we all took turns walking through and purchasing a slew of treasures—they even made personalized bags and
(State of financial education: Many money problems Americans face could have been avoided if financial literacy was taught earlier in school. That knowledge helps create a foundation for students to build strong money habits early and avoid many mistakes that lead to a lifelong of money struggles. This story is part of a series looking at the current financial education landscape in this country.)
Kinsha Sidibe is a freshman in high school and she’s already learning about personal finance.
It’s not because the state she lives in, Pennsylvania, mandates the education. It’s thanks to a program run by a nonprofit,
In the latest round of legislative proposals, some states are merely encouraging the teaching of financial skills while a few would make the subject a graduation requirement. Ohio, for instance, is considering a proposal that would require high school students to pass a half-credit class in personal finance in order to graduate. The class must be taught by a teacher trained in the subject matter.
The bill would also create a fund to help pay for training to teach the subject, said State Senator Steve Wilson, a Republican and former banking executive who co-sponsored the bill. He said he was
Dunlap, who notes on her website that she is not a licensed financial adviser, says her parentstaught her a lot about money growing up, but she quickly realized that wasn’t the case for everyone, especially for women.
“Having a financial education as women or any marginalized group is our best form of protest and is our best way of gaining agency in a world that is increasingly inequitable,” Dunlap said.
And TikTok, she said, is leading the way in enabling a younger, more diverse group of people to both provide and gain access
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