234 National Financial Literacy Month - Day 27 - Financial Literacy & Women

234 National Financial Literacy Month - Day 27 - Financial Literacy & Women

After observing a news broadcast earlier today, the discussion surrounding the cost of living crisis came up. The focus of the news report was centered on childcare costs and the gender pay gap.

Facts: 

Twenty-five percent (25%) of family budgets go toward childcare expenses. 

When it comes to the gender pay gap, it takes Caucasian women three more months to equal the pay of Caucasian men.

It takes African American women seven more months of work to equal the pay of Caucasian men.

It takes Hispanic women ten more months of work to equal the pay of Caucasian men.

Women earn eighty (80) cents for every dollar a man earns which should be corrected considering they work the same job, this is pay inequity of the highest order. 

Living wages required a per hour wage rate of $35.80 to keep up with inflation, however, the federal living wage rate is only $7.35 an hour.

The workforce is feeling widespread burnout. A lot of it is due to the inflation cycle and pay inequality.

Fifty-three percent of women surveyed stated stress levels are higher than they were a year ago. All in all, when it comes to financial literacy for women there are still a lot of challenges they face and more effort needs to be put into correcting the wrongs of pay inequity and flexible work schedules that can accommodate women in all industries.

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