Financial literacy is a serious issue in the United States and globally. Especially for women. Women earn 25% less than men and spend an average of 11.5 years out of the workforce. They have less money saved and feel less confident about personal finance than men. At the same time, 50% of marriages end in divorce and three of four married women are widowed by age 75, after which studies show a woman’s quality of life drops considerably. So much so that the majority of women over 65 in this country cannot afford even their basic needs. The only way to combat this is through education.
While women are the hardest hit, financial literacy is an issue facing the national and global population (for statistics, click the links below). Personal finance is such a basic, necessary skill—our futures depend on it—and yet it’s not taught at home or in schools on nearly the scale it should be. Some well-known faces, including Warren Buffett, Martha Stewart, Jay-Z and hip-hop mogul Russell Simmons, are trying to raise awareness for the cause. More schools are beginning to teach personal finance to students from kindergarten to college, which will help change the way we think about money.
If you’d like to get involved, we’ve listed some ways you can help below.
How you can help
Donate to Promote Financial Literacy
National Endowment for Financial Education. Order free kits to take to your local high schools to raise awareness about NEFE’s free financial education program for schools.
Pay it Forward: Donate to Help Individuals Who are Trying to Turn Their Lives Around
ModestNeeds.Org. Donate to help fund the immediate needs of individuals and families who are struggling to be self-sufficient. The site includes an anonymous list of the individuals and types of assistance they need.
Earn.org. Donate to help low-income families break the cycle of poverty and launch new cycles of prosperity for themselves, their families, and their community.