Today’s guest is Amy Pender owner of SRI Investing. Amy’s passion for breaking down economic barriers for women and girls shines through this conversation. She encourages parents to make money a non-taboo topic. I remember my parents talking about saving, investing and being money conscious growing up, which has helped me as an adult. I hope this episodes encourages you to have more dialog about money with your daughter.
In this episode you will learn:
- SRI Investing is a team of financial advisors and they specialize in helping people invest in companies whose processes and products are not harming people or the planet
- Old myth- if you invest this way you give up return but 20 years research shows otherwise
- Pink Tax: 42% of the time products marketed to women cost more than those marketed to men and boys
- Tampon Tax: Feminine hygiene products-no male equivalent-are treated as “luxury tax” in most states
- Earners or Gender Pay Gap-
- Woman earn $.79 for every $1.00 of what man earns-regardless of education or occupation.
- Takes three extra months to earn same as man in one year
- Mothers typically earn $.73 for every $1.00 of men (or $.06 less, which means extra 5 months of work to earn same amount.)
- 40% of U.S. household with children have mother who is sole or primary earner.
- Research shows once men become fathers they see a 6% increase in earnings and women see 4% decrease per child
- Closing this gap has slowed and at current rate will take over 100 years to close.
- Companies who have three or more women on board of directors the statistics show do:
- 84% better in return on sales
- 60% better return on capital and
- 46% better return on equity
What can you do to educate your daughter?
- Talk about how money works
- Parents openly discuss differences regarding spending/saving and finding ways to compromise
- Share belief systems-what were you taught as a child about money
- Teaching budgeting and money management skills
- Teach about credit and what it means
- American Association University of Women (AAUW) teaches negotiating skills to women/girls
- Empower our next generation to change the salary gap
- Salary does not equal your self-worth
- Advocate on behalf of daughters through legislation
- Educate son’s on not penalizing females
If you liked this episode I invite you to subscribe on iTunes to receive the weekly updates. This podcast is also available on Stitcher, Google Play and now iHeartRadio.
www.SRIinvesting.com (There are two i’s)
firstname.lastname@example.org Best way to get a hold of her is through email
Website and Book Recommendations:
www.aauw.org They have negotiating salary workshops
Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg
Meet with a financial advisor. SRI investing does coaching with families and couples.