#BeWi$e
Be the girl who is comfortable speaking about money. Understand the difference between needs and wants...between value and cost. Then be willing to work towards your goals. Financial confidence in girls isn't impolite. It's essential.
We can't emphasize this enough...
to actively pursue your dreams you need to have financial awareness. Understanding the basics about earning, saving and someday investing your money will put you light years ahead of the crowd, and dependent on no one. Those are good shoes to stand in. And who doesn't love a good shoe? We like turning to our friends at Ellevest , UBS , Morgan Stanley, Goldman Sachs, Worth and other BFFs in the finance space to give you their hard-won - and very wi$e - advice.
What we mean here is -
it's not too soon to decide what you want to accomplish. And you're not too young to start laying out a plan to get there. Want to earn $ by babysitting? Invest in yourself: take a Kids' CPR course or a Red Cross babysitting class so you're ready for anything. Small steps now will pay off later when you're the sitter everyone wants to hire!
Girls, meet...THE FRUGAL FEMINISTA!
Girls, say hi to Kara Stevens - aka "The Frugal Feminista." We met her at the MogulX conference & were blown away by her smart money tips and emphasis on starting young. Check out the finance tips she learned from her mom and these clever ways for you to start saving now! Follow her on insta @frugalfeminista to keep up!
Think girls can't rock CRYPTOCURRENCY? Yeah, think again!
Now meet Kelsey Cole, called "The Leading Female in Crypto" and "a force to be reckoned with in the blockchain space." We met her and immediately wanted to be friends! To hear what rockstar Kelsey wants the girls at Être to know, listen up!
"Girls no longer get to choose whether or not to care if we want to achieve gender parity and equal rights. Stepping back so the boys can have their fun without female involvement, just means that they'll build another glass ceiling without us there to stop them."
- Kelsey to Être
Want money mentors who are super close to your age? Meet Like a Girl Academy - a free online platform designed by business students to teach girls everything they need to know about money. On trend, video-based & easy to understand, these short clips help everything make cents!
Okaaaayy, now let's talk about EQUAL PAY! Check out the not-so-pretend word problem below, and then read Être's Equal Pay article below. We're breaking down this all-important issue for you, because it's never too soon to understand exactly what you're worth. For real.
Word Problem:
If Jack and Jill work the same number of hours each week, and Jill makes 80 cents for every dollar Jack makes, how far into the next week must Jill work to equal Jack's earnings from the previous week? How does your answer change depending on Jill's race, age or education? Show your work.
Um, wait...WHAT?
Exactly. As early as middle school, the math just doesn't make sense..."
Role Model Advice from Ellevest
Build Your Emergency Fund
Start Saving For A Rainy Day, and Keep Saving for a Category 5 Storm
Don't freak out - we're not referring to actual life emergencies or natural disasters...those are for the adults to handle. We mean those unexpected expenses that can crop up in a girl's life (concert tickets, outgrown cleats, a cracked phone screen...again...) that you'd rather pay for yourself. Contribute bit by bit to your rainy-day fund so you're always prepared!
Role Model Advice from Ellevest
Get That Raise
Every Woman Should Earn What She Deserves. Period. But We Know, Asking For A Raise Isn't So Simple...
Replace "raise" with "job" or "allowance," and you get what we mean. Every girl should earn what she deserves. And your work is absolutely worth something - especially if you've planned for the job you want (see above)! But...how to ask? Take a breath, it's easier than you think: (1) State the job you're seeking in a confident voice; (2) Explain why you are a good choice for the job and how hard you will work; (3) Ask for guidance & feedback so you can continue to get better at your job over time.
OK, I get it...
but HOW (you ask) do I actually put all this into practice? I'm in middle school, um, remember? We know, and no worries...we've got you covered. Here's a basic plan we recommend trying:
SPEND...50%
(you worked hard to earn it!)SAVE...25%
(that whole rainy day thing)GIVE...25%
(because, yep...#BeCharitable)See what you think & adjust the #s as needed. Wait, what was that? You want to learn more about finance & investing? Ohhh, we have you SO covered! Scroll on, girls!
Need some data to prove that financial literacy is important for girls your age? Flip through this informative report put together by The Girl Scouts a few yrs ago! (Yeah, like we needed another reason to love our BFFs at Girl Scouts...)
For more girl-powered $$ advice, check out Rock the Street, Wall Street - a new & growing financial literacy program designed to springboard girls into careers in finance. We know. Awesome, right? #RTSWS
Featured
Financial Confidence in Girls Isn’t Impolite...It’s Essential.
Still want more? Here's our article in The Huffington Post on the importance of financial confidence in girls, as well as 2 teen-focused money books - written just 4 U.
Interview with Être Role Model
Kath Carter
Global Leader Transaction Advisory Services Markets Accounts and Business Development, Ernst & Young, LLP
Ê: Companies like yours are trying really hard to hire women and make sure that there are great jobs out there by the time we are old enough to work. What should girls in middle school and high school be doing to get ready for that? What kinds of classes, small jobs or experiences should we try to have while we're in school, so we're ready?
KC: The jobs of the future will be different from the jobs of today, so being open to new experiences and trying many things will be a good foundation for adapting to the change that is to come. Be bold in taking courses outside your comfort zone as you may find out you love them. Also, ensure you find opportunities to work on interpersonal skills, which enhance communication. In this world of high tech filled with gadgets, it is the ability to meaningfully communicate that makes the difference and makes the journey more rewarding too.
Ê: What advice would you give girls our age who get nervous raising their hands in class or get told that it's rude to talk about being smart, jobs or money?
KC: Don't be afraid to fail, be afraid not to. Raise those hands. It is through failing forward that we learn, grow and succeed.
Ê: What did you tell yourself when you were our age that helped make you brave?
KC: I was fortunate to have a mother who believed in me and told me at an early age and often, "Don't let anyone limit you." I have kept those words handy any time I face the need to be brave.
Ernst & Young supports the advancement of strong women through their #WinningWomen, #WomenFastForward and #BeBoldForChange campaigns.
Être urges all forward-looking girls to follow along with E&Y!
What can be done to overcome the perception that financial confidence in middle school or high school-age girls is impolite?
I think this can be an issue not just for financial confidence, but for any kind. And not just in middle school, but beyond . The research is pretty clear that professional women have had to navigate a bunch of unwritten rules about acceptable behavior historically. I don’t know that there’s an easy answer, since these ideas can be part of our upbringing and can be an implicit gender expectation. In the workplace, talking about it, pointing it out, discussing it are means for making everyone aware and then potentially overcoming it.
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