by: Cheyanne Llanos Bare

By this point, we are no longer strangers to the gender pay gap. A gap, which has women earning $.80 for every dollar made by our male counterparts. This disparity is even greater amongst women of color. Black women earning just 62.5% compared to their white male counterparts in 2016 and Hispanic or Latina women 54.4% reducing the income of women over $10,000 each year.And then there is the pink tax: an added cost to products or services that are marketed to and for women. This could be a dry cleaning bill or products like deodorant, shampoo, razors, or even pens. This totals an additional $1351 spent on extra costs and fees for women. Prior to the Affordable Care Act (2010) even health insurance was priced at a higher rate for women, causing women to pay $1 billion more on annual health care costs in the United States. Over a 40 year career, women will lose over $400,000 based on today’s wage gap and they will spend more money on the products they use. So while women are saving a higher percentage of their income they still enter retirement with fewer saving than men. Women retire with only two-thirds the money of men. With an average lifespan 5 years longer than men these funds are stretched even further.This makes investing and saving of increased importance for women. Currently, women do not invest as early as men do, and keep more of their assets in cash that doesn’t allow for growth. When women do invest they consistently outperform men, exceeding male investors by 0.3% in2016.While financial advice for women isn’t all that different than that of men’s, it is essential that it addresses the current gender disparities within finances. And, while there needs to be an end to gendered pricing and more equitable salary practices within organizations these changes are slow to come. Therefore, it is of even higher importance that women receive information on how to properly plan for their future.This all contributes to women’s financial stability and opportunities. In order to empower women, we have to ensure that women have access to financial planning information. Too often women are left out of important financial decisions, socialized to not discuss money, and fail to have the support of a trusted advisor. With proper resources, women can take the next steps toward financial empowerment.Please join Women’s Leadership Center for Financial Empowerment: A Pathway to Informed decisions and Financial Independence.An interactive and empowering dialogue on finances and personal futures, Jennifer Rhoads will lead attendees as they increase awareness on how individual choices directly influence occupational goals and future earnings potential. Real world topics covered will include income, money management, spending and credit, as well as saving and investing.Attendees will gain increased knowledge in finance, debt and credit management, design personal and household budgets utilizing checking and savings accounts, and better understand insurance and taxes. Attendees will ultimately work towards an increased foundational understanding for making informed decisions leading to financial independence.Session One – Your money, Your decisions: financial basics including understanding income, taxes, rainy day savings and when debt is advantageousSession Two – Own your Personal Budget: how to create a personal budget and increase awareness of different financial tools and servicesSession Three – Empower your Money for Financial Independence: saving for retirement, significant purchases and investment basicsFacilitated by Jennifer Rhoads, CFPMondays 10/22-11/55:30 PM – 7:30 PM$80, partial pay scholarships availableRegistration available at: ywcaclarkcounty.org/wlcFor questions contact Cheyanne Llanos Bare by email cllanosbare@ywcaclarkcounty.org or phone (360)906-9157