It’s that time of the year when women are recognized globally for their strength, grit, voice, and for being women. The theme for International Women’s Day 2023 is “Embrace equity.” Women are amazing creatures and sometimes the world can be unfair to them. It is clear that equality can’t give women equal access to opportunity, but equity does. Equity acknowledges that everyone’s circumstances are unique and allocates the precise resources and opportunities required to achieve an equal result.

Equity in the finance industry means better access to ethical financial advice, which is essential for accumulating wealth and managing it. It’s time to support our communities in increasing access to financial education and enhancing the financial health of women, and the first step in doing this is by instilling in our kids, families, and everyone else—young and old—the value of wise money management.

What is Gender Equity?

Gender equity is the process of equally distributing resources, programs, and decision-making to all genders without engaging in gender-based discrimination, as well as addressing any disparities in the advantages offered to people of different genders.

In order to achieve these goals, it is important to make sure that everyone has access to a wide variety of opportunities to reap the social, psychological, and physical benefits of being a human. Girls and women must have access to a wide variety of activities, laws, programs, and job opportunities that suit their needs, interests, and life experiences in order to achieve gender equity.

The goal of equality is to give everyone the same starting point, that is, equal opportunity under one fixed condition. Although treating everyone equally may seem like a noble goal, the equal treatment principle commonly fails to take into account the fact that individuals have different abilities, interests, resources, and life experiences. This is usually the case for women. This is why equity will take into account the unique circumstances of women, and provide the opportunity that will help to achieve the desired result without any obstacles.

You are a Woman and You Matter

It’s a world of many opportunities, and women have risen to great heights that were impossible several decades ago. Women now lead in tech, finance, and politics, and they are also flourishing in the family. If one woman can do it, then every other woman can do it too. Greatness doesn’t come to anybody overnight; you have to desire it and work towards it. Equity can give you access to opportunities, but your desire as a woman is what will help you be a successful woman in any endeavor. One of the several challenges women face is handling finances—not making enough money and not knowing how to manage money. Let’s take a look at how women can do better with their finances.

How Can Women Manage Their Finances Better?

Money management is a skill that everyone should learn, even children. Knowing how to manage your money as a woman will help you build your confidence, accumulate wealth, deal with debt, and give your family a good life. What are the simple ways a woman can manage her finances better?

Become more financially literate

Financial literacy entails understanding how to handle your personal finances, keeping expenses in check, and investing wisely. As a result, the more you understand financial products, concepts, and practices, the better choices you can make with your money. Focus on educating yourself about finances, even if it’s just for a few minutes here and there. You’ll feel more self-assured and be better able to handle your finances as a result of doing this.

Have a budget

Women are more likely to spend on a whim, which is why budgeting is important. You shouldn’t spend your money on anything and everything. Plan your finances to accommodate your needs, and you can also prioritize wants in your budget too as long as your income can accommodate it.

Save money and invest

The earlier you begin saving, the greater the potential for the long-term development of your investments.

Plan for retirement

Start by considering when you plan to retire and how long your retirement savings should last. In retirement, your standard of living may change. You should also factor in general inflation as well as cost rises associated with prescription drugs, healthcare, and other expenses. Do your best to estimate your monthly expenses based on how you envision your life in retirement.

Debt Management for Women

It’s International Women’s Day, and we have exciting news for you. Do you know that your debt can be reduced by up to 80%, and all interest will stop immediately? Speak with one of our debt experts to get started on your journey toward becoming debt-free and achieving financial freedom. You can celebrate this year’s IWD in a grand style by scheduling a free consultation with one of our debt experts. Call us on (416) 900-2324 to get started. Debt-free, feels good.

Happy International Women’s Day!