Guest: Laura Mattia, PhD Candidate in Personal Financial Planning at Texas Tech University, Financial Adviser for 15 years and Founder of the Women’s Money Empowerment Network
The financial gender gap so often discussed in America doesn’t just apply to earnings. Women make less than men, yes. But they’re also less knowledgeable about finances in general.
The Global Financial Literacy Excellence Center last year asked men and women in the US three multiple choice questions along the lines of calculating how much interest you’d earn on $100 in a savings account if the rate is 2 percent. Thirty-eight percent of men got all three questions right. Only 22 percent of women did.