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Yahoo
12-05-2025
- Business
- Yahoo
3 Reasons Women Are Less Confident About Money — And Why That Matters
When it comes to money, women are feeling the pressure. Financial stress among women is widespread, deepening and rooted in systemic barriers that go beyond individual choices. Women are more likely to earn less, while at the same time shouldering greater caregiving burdens. It's no wonder confidence is low. Try This: Read Next: According to a recent study by Credit One Bank, 48% of women report feeling financial stress, compared to 38% of men. When confidence levels are discussed, it goes the other way, with only 39% of women feeling in control of their finances, compared to 50% of men. There's an obvious gap, and the numbers reflect entrenched financial disadvantages. Student loans hit women harder and follow them longer. According to the American Association of University Women (AAUW), women hold nearly two-thirds of the country's student debt, they graduate owing more than men and, due to the persistent gender pay gap, take roughly two years longer to pay it off. The issue compounds over time — higher debt loads combined with lower lifetime earnings means interest accumulates and financial stress grows. For You: It's 2025 and women aged 25 to 54 still earn $211 less per week than men, according to the Bureau of Labor Statistics. That means women in their prime working years are bringing in just 83.9 cents for every dollar earned by men. Lower weekly earnings translate into reduced capacity to save, invest and build long-term wealth. It affects creditworthiness, limits access to capital and puts women at a disadvantage when it comes to homeownership and entrepreneurship. Over time, the gap compounds, especially in retirement, where smaller lifetime earnings often result in lower Social Security benefits and fewer assets to draw from. Women only answered 43% of the questions correctly in the in the 2024 TIAA Institute-GFLEC Personal Finance Index, compared to 53% of men, showing lower levels of both financial literacy and retirement fluency. Financial literacy affects every decision, from budgeting and saving to borrowing and investing. Lower literacy levels can lead to lower confidence and less participation in financial planning, and leaves some women more vulnerable to poor advice. Building confidence starts with empowering women to take charge of their financial lives. Financial education needs to be more real and relatable, and employers and institutions must do more to close the pay gap and increase benefits transparency. Financial stress doesn't go away overnight, but change starts by naming the problem, addressing the root causes and pushing back against outdated norms. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early How Far $750K Plus Social Security Goes in Retirement in Every US Region 12 SUVs With the Most Reliable Engines Sources Credit One Bank, 'Trends and Factors Affecting Generational Financial Trauma.' AAUW, 'Women & Student Debt.' U.S Bureau of Labor Statistics, 'Usual Weekly Earnings of Wage and Salary Workers News Release.' GFLEC, 'The 2024 TIAA Institute-GFLEC Personal Finance Index.' This article originally appeared on 3 Reasons Women Are Less Confident About Money — And Why That Matters Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24-04-2025
- Business
- Business Wire
Hometap Partners with iGrad to Integrate Enrich Financial Wellness Platform, Enhancing Support for Homeowners' Financial Journey
BOSTON--(BUSINESS WIRE)-- Hometap, the Boston-based financial technology company pioneering home equity financing solutions for American homeowners, announced a partnership with financial education company iGrad to offer its Enrich financial wellness platform to invested homeowners. This strategic partnership enhances Hometap's commitment to homeowner success by providing essential financial education resources that support better decision-making throughout the entire home investment journey and beyond. Through this partnership, invested homeowners will gain free access to Hometap's Financial Health Hub, powered by Enrich. This new platform addresses the critical connection between financial education and long-term homeownership stability that Hometap has identified through years of working with homeowners. The platform includes practical tools that homeowners can immediately apply to their financial habits: nearly 3,000 articles on essential topics like budgeting and credit management, plus over 500 instructional videos, interactive tutorials, and financial calculators. The content is personalized to each homeowner's unique situation and enables them to build confidence, whether they're planning for a successful investment settlement or strengthening their overall financial well-being. "This partnership advances our commitment to empowering homeowners well beyond their home equity needs," said Jeffrey Glass, CEO of Hometap. "By equipping them with personalized tools and guidance, we're helping them navigate financial decisions with confidence throughout their investment journey. We're dedicated to providing support not only at the time of investment, but as they work toward achieving their long-term goals." This initiative comes at an important time when financial stress is a widespread concern. In a recent April CNBC survey, more than 70% of Americans said they feel stressed about their finances. For homeowners juggling daily expenses and long-term goals, that stress can be especially challenging. The 2024 TIAA Institute-GFLEC Personal Finance Index shows that financial literacy can help ease this burden, as individuals with stronger financial knowledge spend less time focused on their finances. This partnership provides homeowners with the personalized resources and financial education they need to reduce stress and feel empowered to make informed decisions, build stronger financial foundations, and work toward sustainable financial security. 'We're thrilled to partner with Hometap to expand access to personalized financial education for homeowners. Enrich was built to meet individuals where they are on their financial journey, and this collaboration allows us to support homeowners during one of the most significant financial decisions they'll make,' said Kevin Soehner, Senior Vice President of Operations at iGrad. 'By combining Hometap's innovative home equity solutions with our data-driven financial wellness platform, we're helping homeowners build confidence, reduce stress, and take control of their financial future.' The integrated financial wellness platform will be available to homeowners who have a home equity investment with Hometap in May. About Hometap Founded in 2017, Hometap is a Boston-based fintech company on a mission to make homeownership less stressful and more accessible. Starting with its industry-leading home equity investment product, the company has helped over 18,000 homeowners across the U.S. access their home equity without having to take on additional monthly payments or sell their home. Hometap expanded its suite of innovative financial products and services in 2022 with the Home Equity Dashboard. This digital platform is designed to help homeowners at every stage of their journey make more informed financial decisions about their home — and take action on those decisions — with confidence. Learn more at About iGrad iGrad is a San Diego-based financial technology company that offers financial wellness solutions to more than 600 colleges and universities, more than 20,000 employers and more than 300 financial institutions. The company's Enrich Financial Wellness platform provides personalized, interactive financial education tools and resources designed to help users improve their financial knowledge and make better financial decisions. The platform has received numerous awards, including Education Program of the Year (The Institute for Financial Literacy) and Best Product award (University Business Magazine). For more information about the Enrich platform, visit
Forbes
18-04-2025
- Business
- Forbes
The Crucial Leadership Skill Most Leaders Lack: Financial Literacy
Understanding money isn't just for finance teams—leaders who grasp financial literacy make smarter ... More decisions and drive long-term impact. Leadership is often defined by emotional intelligence. Communication is praised as the cornerstone of building strong teams. Vision is seen as the spark that turns ideas into reality. However, one crucial element rarely gets the spotlight: financial literacy. Understanding numbers or budgets isn't enough. Effective leaders must make strategic decisions and navigate economic uncertainty with confidence. But above all, they need to empower others to do the same. In short, if you want to lead, you need to understand money—not just for yourself, but for those who rely on your guidance. Yet financial literacy shouldn't be reserved for leaders alone. Every team member benefits from understanding the financial mechanics behind their work—whether reading a budget or interpreting performance metrics. Financial knowledge builds a more informed and empowered culture when shared across an organization. The problem? Too few people have ever been taught these skills, and many feel overwhelmed just trying to figure out where to start. 'Financial literacy is a human right,' states Dasha Kennedy, author of Moving Beyond Broke. 'But it's been treated as optional instead of essential. And that has to change.' Recent data confirms that financial literacy in the United States has reached its lowest recorded level. According to the 2024 TIAA Institute-GFLEC Personal Finance Index, U.S. adults correctly answered only 48% of basic financial questions on average, a decline that marks an all-time low since this survey began in 2017. The World Economic Forum, highlighting this study, also reported that U.S. financial literacy has been roughly flat at roughly 50% for several years 'with a 2% drop in the past two years', confirming the slide to a new low. Meanwhile, economic decisions are growing more complex. Leaders are expected to make calls that impact entire teams and communities. That's where financial literacy becomes more than a personal tool; it becomes a leadership asset. 'Leadership is about helping others move forward,' Kennedy says. 'And you can't do that effectively if you're financially unstable or uninformed.' She emphasizes that understanding money isn't just about budgets or spreadsheets—it's about confidence. It's about being able to handle setbacks, advocate for fair compensation and create opportunities not just for yourself but for those around you. Dasha Kennedy, financial activist and founder of The Broke Black Girl, is reshaping how communities ... More approach money—one practical lesson at a time. Advocates like Kennedy step in to fill this growing knowledge gap, translating complex finance into practical, relatable guidance. As a single mother navigating financial hardship and limited resources, Kennedy realized that most personal finance advice didn't reflect her reality—or the reality of millions of others. So, she created The Broke Black Girl, a digital platform that now reaches almost half a million women with practical, culturally relevant financial education. Kennedy offers practical strategies grounded in real-life experiences, making it easier for others to take control of their finances and build long-term stability. What sets her strategies apart is she doesn't shame. She empowers. 'People think improving your finances means making drastic changes,' she says. 'But real growth is about consistency. Even small steps count if you take them consistently.' Kennedy continues, 'One of the biggest misconceptions is that knowledge alone can close the wealth gap. But access matters. Fair wages matter. Opportunities to build wealth matter.' Financial literacy is a skill; like any skill, it can be developed with consistent effort and the right resources. Here's how leaders can level up their own knowledge and create a more financially confident team in the process: Before guiding others, leaders must assess their own financial understanding. You don't need to become a financial expert overnight. Begin with manageable habits: Financial literacy shouldn't stop with leadership. Empower your team to understand the financial systems behind their work. Break the taboo around talking about money at work. When people understand the 'why' behind financial decisions: At its core, Kennedy's message is clear: financial literacy isn't reserved for economists or CFOs. It's for everyone and especially important for those who want to lead, whether in their homes, companies or communities. 'Start now. Start small. Just start,' Kennedy concludes. 'You don't have to know everything to begin. But you do have to begin if you want to lead.'
Associated Press
15-04-2025
- Business
- Associated Press
Haul-Across Perspectives Inc. Launches Financial Education App to Shape Prosperous Futures
04/14/2025, Minneapolis, Minnesota // PRODIGY: Feature Story // Haul-Across Perspectives Inc. is thrilled to share its financial education app with the world. This digital platform caters to those aiming to navigate the landscape confidently. Committed to championing financial literacy, it offers exclusive expert insights, live interactive sessions, and tailored guidance whenever and wherever users need it. Haul-Across Perspectives Inc. The US-based company has always been dedicated to enriching lives through practical financial education and personal development. Founder William Parker, widely known as EverettDay, established Haul-Across to make complex concepts about the subject accessible. The app only further demonstrates his drive to democratize financial knowledge for diverse audiences on a global scale. This drive, reflected in the company's mission, was shaped by Parker's experiences. The founder grew up in a modest family near Little Rock, Arkansas, with his technological knowledge coming from both academia and real-world settings (working within major telecommunications and IT companies). 'I have been intrigued by all things IT from a young age, from learning to code in my personal time to deep diving into the intricacies of telecommunications and connectivity within the workforce,' adds Parker. But his expertise does not end here. William's knowledge has been gained in numerous industries, not only within the telecommunication and IT space, but also retail management and corporate training. Throughout his journey, he experienced the hardships stemming from a lack of financial knowledge. These adversities inspired him to create an accessible, comprehensive platform that demystifies finance for everyone. Parker also acknowledges that the average individual is usually left behind in today's financial landscape. Statistics support this sentiment. The TIAA Institute-GFLEC Personal Finance Index (P-Fin Index) reports that US adults correctly answer only 48% of financial literacy questions, with even lower rates among younger generations. The figures emphasize that high-quality financial education is urgently needed. 'I want to see the average person understand that it's not always about money—that it's about community, about truth. Our goal at Haul-Across is to help them make informed decisions in a system that has misled them,' Parker supplies. This vision is embedded in the app's features. Users can join live weekly sessions led by seasoned financial professionals who simplify complex topics into practical advice. They can also access in-depth courses that demystify market trends. These start with foundational money management skills and progress to advanced topics such as cryptocurrency and wealth management strategies. Those who need additional support can book 1:1 guidance for tailored advice. Designed to be engaging and interactive, the Haul-Across Perspectives App encourages users to share experiences, ask questions, and learn collaboratively. In addition, its smooth integration across smartphones, tablets, and laptops ensures they remain connected to the latest financial insights, whether at home, on a commute, or between meetings. William Parker The company has shared a roadmap for the app's development. The initial phase involves establishing a strong base of financial literacy through user-friendly education modules and regular live sessions. As users build their confidence and knowledge, the app will roll out more advanced courses and one-on-one personalized coaching. The platform also has plans to incorporate interactive tools to further its mission. The Haul-Across Perspectives App is one step toward democratizing financial education for those who need it most. Extending its commitment to making a difference, Haul-Across also supports Project Kennedy —a heartwarming initiative providing comfort, care packages, and gift cards to families affected by cancer. Ultimately, Haul-Across Perspectives combines cutting-edge technology, expert guidance, and a heartfelt dedication to community welfare to empower individuals to build lasting wealth and secure their financial futures. There is no offer to sell, no solicitation of an offer to buy, and no recommendation of any security or any other product or service in this article. Moreover, nothing contained in this should be construed as a recommendation to buy, sell, or hold any investment or security, or to engage in any investment strategy or transaction. It is your responsibility to determine whether any investment, investment strategy, security, or related transaction is appropriate for you based on your investment objectives, financial circumstances, and risk tolerance. Consult your business advisor, attorney, or tax advisor regarding your specific business, legal, or tax situation. Media Contact Name: William Parker Email: [email protected] Source published by Submit Press Release >> Haul-Across Perspectives Inc. Launches Financial Education App to Shape Prosperous Futures
