Money Musings: 💭 Learn from these incredible experts
Before we learn from some amazing experts, I need to share a HUGE thank you. 🙏
I’m so filled with gratitude for this incredible community. Seeing Financial Adulting out in the world and already hearing about your results has made all the hard work worth it. It’s a dream come true!
Ok… back to our regularly scheduled programming.
I have a vision for personal finance education.
And it starts young. Children need to have access to inclusive personal finance education from a young age so they can get comfortable with the concepts, avoid predatory offerings, and hit the ground running when they earn their first income.
Investing and access to financial products needs to be democratized so that there’s equal access.
We need transparency from companies and educators so that we can build trust in the industry. When you’ve been screwed over by the financial services industry for generations, you’re not eager to jump in.
Traditional, and really, patriarchal values, tell us that it’s every man (see, even there) for themselves. We have generations of oppression and distrust to overcome. There’s no way we’re undoing that on our own. We need a community. We need to do this together.
I’m so lucky to be part of a community of financial creators, educators, and activists that come together to lift people up and share my vision for financial education. And I was so excited to be able to feature so many of their incredible voices in my book.
Here’s a list of the amazing people I interviewed along with links to learn more about their important work. Go ahead and check them out (if you haven’t already). You’ll thank me later!
P.S. Early reviews are so important for authors (especially women authors). If you love Financial Adulting, please leave a review wherever you purchased (and you can copy and paste it to other places too!). 🙏
MONEY MOVE OF THE WEEK
RESEARCH YOUR MARKET RATE.
The concept of earning what you’re "worth" is fraught with issues. As a human, you’re priceless and your work does not define your worth. But, it’s still important to determine what the market rate is for the work that you do so that you can be paid fairly (or what you deserve).
Your market rate is just the amount of money companies are willing to pay for your expertise and experience at this current time, controlling for cost of living. More people are negotiating rates - don’t get left behind! To find your market rate, do some research:
Check websites like the Salary Project, Monster.com, PayScale, Glassdoor, and Salary.com. The more specific your search (by position, location, etc), the better.
Talk to your colleagues about what they earn (both your coworkers and others in your industry at other companies) - especially white men.
If your work culture doesn’t support pay transparency (that’s a problem!), talk to people who have left the company.
Have calls with recruiters who know the industry.
Browse job postings that include salary ranges.
YOU GOTTA SEE THIS
DEFINE INTERSECTIONALITY AND THE GENDER WEALTH GAP
INTERSECTIONALITY. A term coined by lawyer and civil rights activist Kimberlé Crenshaw. Women of color, LGBTQ+, people with disabilities, and mothers experience inequality in a compounding way. Kimberlé describes intersectionality as "a prism, for seeing the way in which various forms of inequality often operate together and exacerbate each other." Yes, there is inequality based on gender identity, race/ethnicity, class, and sexual orientation, but many people are subject to some or all of these inequalities, not just one, and there’s a cumulative effect.
THE GENDER WEALTH GAP. Women own (or have) $0.32 for every $1.00 a white man owns (or has). This gap is far greater for women of color (intersectionality!). Black women and Latinas own $0.02 and $0.01, respectively, for the white man’s dollar. $0.01! If we added in the compounding effects of disabilities, gender identity, sexual orientation, and motherhood, these numbers are likely even lower.