Money is an issue. At least, if you're a woman, it should be. There's the pay gap, the investing gap, and the confidence gap, to name a few, and while there are countless factors at play, gender inequity when it comes to finances is a big one. But wait, is being a financial feminist different from being a straight-up feminist?
Nope. "A feminist is someone who believes in equality. A 'financial feminist' is just about believing in financial equality of women," says Ashley Feinstein Gerstley, CFP®, founder and CEO of The Fiscal Femme and the two-time award-winning author of Financial Adulting and The 30-Day Money Cleanse. So why the label?
Well, it's about driving a specific conversation. Study after study shows that for women, talking about money can be a tough ask. Throughout history, the subject has been considered "impolite," and that's been particularly costly for women. Even today, women rate their own investing knowledge far lower than men do, 54% versus 71%, despite research showing women's portfolios actually outperform men's by up to 1.8% on average.
That confidence gap isn't a personality quirk. It's the direct result of a culture that's told women for generations that money talk isn't theirs to have. "Money is the tool we can use to have and experience what we want in life," Feinstein Gerstley adds. "It provides power and freedom in our choices, careers, families and really everything."
But because the list of feminist issues to be discussed on the regular is a long one, often driven by cultural and political events (access to healthcare, intersectionality, reproductive rights, body image issues, and rape culture, to name just a few), financial matters tend to be more of a slow burn. And so financial feminism is about making money a tent-pole topic for women: diving headlong into investing, spending, saving, negotiating.
Want in on how to take control of your financial future? We've got you.
Don't censor yourself
Whether you're rolling in serious dough, have major credit card debt, or are straight-up confused about how to start saving, own it. Conversations about menstrual cups can get real really quick when you're hanging out with friends. Why don't we give ourselves the same freedom when it comes to talking about our money, or lack thereof?
Look at wealth as an area of self-care
We love wellness: give us all the healing crystals, green juices, and meditation mantras. But taking a little time out to focus on your finances is just as critical as hitting up a yoga session.
Download a budgeting app, get yourself a financial advisor, dedicate a weekly hour to investing, focus on spending your money with companies and on products that align with your values. It can be whatever you want, but let it be something.
If you're not sure where to start, this guide to investing for beginners breaks down the basics without the jargon. Taking ownership of this part of your life will have real mental and emotional benefits.
Keep bringing it up
Advocating for yourself when it comes to money can feel vulnerable, scary, and uncomfortable, but it's necessary. If you're earning less than your male co-worker, talk about it, and if you need the script for that conversation, this breakdown of salary negotiation tactics is a solid place to start. If you notice there's a pink tax on your female products, talk about it.
If every retirement goal seems male-focused, talk about it. If you're talking about the future with your partner and they assume you'll make career sacrifices when it's time to start a family, talk about it.
Closing your pay gap, your investing gap, and your confidence gap starts with one conversation. Get the Girlboss Daily for the negotiation scripts, investing basics, and financial intel that make that conversation easier.
