Financial Literacy and the Gender Gap
Addressing Our Personal Finances 

Abdu’l-Baha has said that "In this Revelation of Bahá'u'lláh, the women go neck and neck with the men. In no movement will they be left behind. Their rights with men are equal in degree. They will enter all the administrative branches of politics. They will attain in all such degree as will be considered the very highest station of the world of humanity and will take part in all affairs.” (Paris talks, p. 182)

Often times, since we have seen the minds and hearts of people changing and recognize these words as the truth, we tend to overlook the small but still important disparities that hold us back from realizing our status as complete equals.

Financial Literacy and the Gender Gap
Addressing Our Personal Finances 

We tend to think about a gender gap in very broad terms. Whether it is men earning a higher wage for the same job or higher literacy rate for men compared to women. But the gender gap can also affect us at a more personal level.

Based on a study prepared by Financial Finesse, a company that provides financial education programs, “Women tended to be more reactive than proactive about their finances than men.” The study considered basic factors such as whether or not someone had an emergency fund in case they lost their job, paying bills on time each month, paying off credit card balances in full and being in control of their cash flow.

Many of us prefer not to think about money and finances, but as we know, spiritual endeavors are dependent on material means. Just as we work to improve our spiritual selves, so too should we pay attention to our material side. With this in mind and in these uncertain economic times, it is all the more important to be proactive and in control of our personal finances and to strive to achieve financial literacy. This study brings up some good points to consider when thinking about your money and where it is going.

• Am I spending less than I make each month?  
• Do I pay off my credit card balances in full or just pay the minimum balance?
• Am I comfortable with the amount of debt that I have/ do I know how much debt I have?
• Do I have an emergency fund in case I cannot work or lose my job?
• Do I have a basic understanding about investments, stocks and bonds and am I comfortable with the investments that I have?
• Do I pay my bills on time each month?
• Am I contributing to a retirement plan?

Comments

[Farah]

this is great advice! My husband and I are both students, and it can be hard at times to keep things in perspective. Thank you for sharing this!