As 51% of the population, women have never been offered a tailored approach to money and the many issues that surround making it, saving it, investing it, and spending it to achieve personal goals. Take into account the following statistics that illustrate exactly why women need different financial solutions for their entire life:
How is that possible? Because woman, on average, only make 80% of what men do. When you compare career earnings, you’ve given the work force 10 free years of productivity.1
The wage gap for women of color is twice as bad, as a result of both gender AND race gap.
This disparity is a direct result of lower lifetimes earnings and different works patterns.3
Women with pensions receive about 58% of the average male retirement income, or $13,603 annually compared to $23,500 each year for a man.4
“Women’s” jobs often pay less precisely because women do them. A study of more than 50 years of data revealed that when women moved into a field in large numbers, wages declined, even when controlling for experience, skills, education, race and region.6
In the time period between one and four years after graduation, men paid off an average of 38% of their outstanding debt, while women paid off 31%, according to the study.7
Purse Strings was founded to provide the valuable information and resources you need to make the right decision for you, wherever you are in your life. Purse Strings also provides a database of local, trained, and vetted financial professionals who are committed to serving women. We’ve done all the work for you, all you need to do is chose the right professional for you and your needs.