The world needs women to build wealth, lots of it

I’m here for one reason: to get more money in the hands of women. That’s because I believe helping women build wealth is the only way to shift the dynamics of power and save the world. Throughout history, women have encountered systemic barriers preventing our entry into economic spheres. And we’ve all paid the price for this. But I’ve never been more hopeful that we can change this!

At no other time in history, has it been easier to build wealth.

We have tons of tools at our disposal to empower us to make intentional and impactful financial decisions. We’re due for a major paradigm shift and with each passing day, the tides turn as more women shatter glass ceilings, dismantle societal limitations, and blaze trails towards financial independence. When women build wealth, they secure their financial well-being, they become catalysts of progress, and they ignite a transformative spark that illuminates our collective future.

By building wealth, women can reshape the very fabric of our society.

The consequences of women rising to economic prominence are nothing short of extraordinary. The impact radiates across communities, nations, and even the world at large. As women amass financial resources, build wealth, and wield their economic influence, we witness the empowerment of not just individuals but entire communities. Through their investment in education, healthcare, and social initiatives, women have the power to uplift and transform lives, unraveling the threads of inequality that have constrained progress for far too long. Bottom line: when women have more money, the world changes.

Here are some of the ways that more money in the hands of women will change the world:

More women will become entrepreneurs.

Entrepreneurship has traditionally been a male-dominated field, but as more women have access to capital and resources, we are seeing a rise in women-owned businesses. According to the National Association of Women Business Owners, there are currently 12.3 million women-owned businesses in the United States, generating $1.8 trillion in revenue. As more women start their own businesses, they create jobs and contribute to the economy, all while pursuing their passions and building their own wealth.

Women will invest in causes they care about.

Studies have shown that women are more likely to give to charitable causes than men, and they are more likely to give a higher percentage of their income. When women have more money, they can give even more to causes they care about, whether it’s supporting education, healthcare, or social justice. Women can also invest in companies that align with their values, putting pressure on businesses to prioritize ethical practices and social responsibility.

More women will pursue education and career advancement.

When women have financial stability, they have more options in terms of education and career opportunities. They can afford to go back to school, pursue advanced degrees, and take on leadership roles. This not only benefits individual women, but it also benefits society as a whole when more women are represented in positions of power and influence.

Women will have more control over their own lives.

Financial freedom gives women the ability to make choices about their own lives. They can choose when to start a family, where to live, and what kind of work they want to do. When women build wealth, they have more control over their own lives, they are happier and more fulfilled, and they can better contribute to their families and communities.

Gender equality will improve.

When women have more money and economic power, gender equality improves. Women are no longer dependent on men for financial support, and they can advocate for themselves and their rights. Women can demand equal pay and equal opportunities, and they can challenge the systemic barriers that have held them back in the past. When women have more money, they are better positioned to fight for gender equality and to make lasting change.

The data backs up the need for more women to build wealth.

A study by Claire Costello and Jackie VanderBrug, Managing Director of Philanthropic Solutions at Bank of America and Head of Sustainable and Impact Investment Strategy in the Chief Investment Office for Merrill and Bank of America Private Bank respectively, validated these claims big time:

• Women are making the vast majority of decisions when it comes to where their money is invested and which organizations or causes they support. Women make 90% of household financial decisions in American households. This includes investment and philanthropic decisions.
• Historically, women didn’t have access to money and power. But women will hold $110 trillion in assets by 2025. This means that women have major financial power and opportunity to make an impact around the world.
• Women are more altruistic and generous with their money overall. Up to 93% of women give to charity or volunteer, compared to 80% of men.
• Women reinvest 90% of their income back into their families. They also tend to reinvest more than 90% of their assets and earnings back into their families for nutrition, education, healthcare, and more. In contrast, men only reinvest 44% of their income back into their families. These findings suggest that women recognize that reinvesting back into the family creates more sustainability not only within the family unit, but within the community and society at large.

These findings suggest that women are more altruistic and generous with their money overall, and this fact is a force for good in an often difficult world. We just need to ensure women has the knowledge, tools, and opportunities to build wealth and help others to do so as well.

Here’s an easy way to use your money to change the world.

If you’re a woman who is already investing, but you haven’t prioritized investing in causes and companies that you believe in, that’s okay. You can start right here, right now.

One option to consider is ESG investing, which stands for Environmental, Social, and Governance. This type of investing seeks positive returns and long-term impact on society, environment, and the performance of the business. You can grow your wealth and prepare for your future while still making a positive impact on the world.

More money in the hands of women is how we create real change.

Women will become entrepreneurs, invest in causes they care about, pursue education and career advancement, have more control over their own lives, and improve gender equality. As we continue to work towards a more just and equitable society, empowering women financially is a crucial step. By supporting women-owned businesses, investing in companies that prioritize social responsibility, and advocating for equal pay and opportunities, we can help create a world where women have the economic power we all deserve. Money coaching and financial education can play a vital role in this process, helping women build the skills and confidence they need to take control of their finances and build a better future for themselves and their communities.

Overall, it’s clear that women have a powerful role to play in creating a better world through their financial decisions. If you’re looking to align your investments with your values, consider working with a money coach who can help guide you towards making impactful decisions.