INDEPENDENT NEWS

Closing The Money Knowledge Gap With Financial Education: Insights For International Women's Day

Published: Tue 5 Mar 2024 10:07 AM
As we approach International Women's Day on 8th March, the theme "Inspire Inclusion" urges us to forge a more inclusive world for all women. At Money Sweetspot, we love that! We recognize that empowering women through financial education totally supports greater inclusion and equality.
Women face unique challenges when it comes to managing their finances, from the gender pay gap to the motherhood wage penalty and the disproportionate burden of caregiving responsibilities. These factors contribute to financial inequality and underscore the need for action.
One big step we can take is to advocate for equal financial education opportunities. Shockingly, only 13% of people globally, regardless of gender, have received formal financial education. This knowledge gap leaves many women feeling anxious and uncertain about their financial futures.
Research shows that women are often less confident than men in various financial topics, highlighting the importance of building confidence, knowledge, and skills through education. By providing women with the tools and resources they need to make informed financial decisions, we can help bridge the confidence gap and empower them to take control of their financial lives.
At Money Sweetspot, we are pioneering a new approach to lending by linking engagement with financial education with the repayment of debt. We believe that everyone deserves the opportunity to learn about money management while paying down their debt, empowering them to get out of debt quicker and achieve greater financial freedom.Women 20% more engaged with financial education than men
One year in, the results tell a clear story: two thirds of our female customers have engaged with our financial education.
Our most motivated customers are our female customers- they are smashing through their financial reset and on track to be out of debt more quickly. One of our first customers, Sarah, who applied for a reset after a relationship breakdown, repaid her financial reset a whopping two years early by completing the financial education and finding innovative ways to earn and save.
Money Sweetspot CEO and co-founder Sasha Lockley says she's pumped by this:
"If there really is a financial education gender gap, then these wāhine toa are closing it every single day. And every one of them will be sharing that knowledge with friends and whānau. Ka rawe!"
At Money Sweetspot, diversity and inclusion are fundamental values. We are proud to support initiatives that promote financial empowerment for women and are committed to creating a more inclusive world for all.

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