Welcome to the new Money Nuggets news round up. Each month we’ll bring you the latest news and stories about women and money. Here you’ll find some of the top online reads and features so take a minute to get up to speed on the issues that matter to you!
January Top Picks on Women and Money
It’s been a topsy-turvy month for women and money. On the up side, a fearless female BBC correspondent quit in protest at the Corporation’s gender pay gap. Meanwhile a group of the country’s richest and most powerful men gathered at a men-only dinner to sleaze at women in the name of charity.
Oprah Winfrey delivered an inspirational Golden Globes speech, fuelling rumours of running for President (since denied). Not to mention the #MeToo campaign, still in full swing. It’s definitely an interesting time to be a woman….
Gender Pay Gap Shame
The BBC’s China editor Carrie Gracie stood up for women everywhere by standing down in protest at unequal pay with her male colleagues. It came at a time when the Gender Pay Gap is hitting the headlines hard. The Daily Telegraph revealed last week how UK working women lose out on £138 billion a year in earnings compared to their male counterparts.
Carole Easton, chief executive of the Young Women’s Trust, which compiled the figures, rightly says much more work needs to be done to promote equal pay. She said: “Real equality means supporting women into better-paid, male-dominated sectors like engineering and construction and tackling low pay in women-dominated sectors.”
Are you one of the millions of women losing out? Grasping the nettle like Carrie Gracie is just the start, but are you up for the fight?
When it comes to gender and finance it’s not just the pay that’s different. Financial website GOBankingRates asked 5,000 men and women about their biggest money regrets. The results revealed that men regret not investing enough and women regret not saving enough – 36%of women, compared to 33% percent of men, have nothing saved for retirement. And without savings it’s difficult to invest in the first place.
How healthy is your savings account? Remember: savings mean financial power. Start today. But don’t forget, regular saving is only half of the equation and investing is the other half.
Let’s finish with the recent research published by the ONS showing that men have five hours leisure time a week more than women. Apparently, while the men are out living it up, the women are doing the bulk of the housework and childcare. Which, as we all know, means working for free.
The ONS have even provided a tool to help you calculate how much you would earn if someone was willing to pay you for all this unpaid work. Be prepared: the results are shocking – if you got paid for all that hoovering and snot-wiping, we’d be up there with the men in terms of earnings. Maybe it’s time for sit down with your man? Or just sit down generally……
And finally, if you are seeking financial advice from a professional, here is what good financial advice really looks like.
We hope you’ve enjoyed our news round-up, if you’ve come across any other juicy nuggets online, share them with us. See you next month!