20: Breaking economic barriers for women and girls

Today’s guest is Amy Pender owner of SRI Investing. Amy’s passion for breaking down economic barriers for women and girls shines through this conversation. She encourages parents to make money a non-taboo topic. I remember my parents talking about saving, investing and being money conscious growing up, which has helped me as an adult. I hope this episodes encourages you to have more dialog about money with your daughter. In this episode you will learn: SRI Investing is a team of financial advisors and they specialize in helping people invest in companies whose processes and products are not harming people or the planet Old myth- if you invest this way you give up return but 20 years research shows otherwise Statistics: Pink Tax: 42% of the time products marketed to women cost more than those marketed to men and boys Tampon Tax: Feminine hygiene products-no male equivalent-are treated as “luxury tax” in most states Earners or Gender Pay Gap- Woman earn $.79 for every $1.00 of what man earns-regardless of education or occupation. Takes three extra months to earn same as man in one year Mothers typically earn $.73 for every $1.00 of men (or $.06 less, which means extra 5 months of work to earn same amount.) 40% of U.S. household with children have mother who is sole or primary earner. Research shows once men become fathers they see a 6% increase in earnings and women see 4% decrease per child Closing this gap has slowed and at current rate will take over 100 years to close. Good statistics: Companies who have three or more women on board of directors the statistics show do: 84% better in return on sales 60% better return on capital and 4 6% better return on equity What can you do to educate you daughter? Talk about how money works Parents openly discuss differences regarding spending/saving and finding ways to compromise Share belief systems-what were you taught as a child about money Teaching budgeting and money management skills Teach about credit and what it means American Association University of Women (AAUW) teaches negotiating skills to women/girls Empower our next generation to change the salary gap Salary does not equal your self-worth Advocate on behalf of daughters through legislation Educate son’s on not penalizing females If you liked this episode I invite you to subscribe on iTunes to receive the weekly updates. This podcast is also available on Stitcher, Google Play and now iHeartRadio. Amy’s Information: www.SRIinvesting.com (There are two i’s) [email protected] (Best way to get a hold of her is through email) Website and Book Recommendations: www.aauw.org They have negotiating salary workshops Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg Meet with a financial advisor. SRI investing does coaching with families and couples.