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Women Shortchanged: CardRatings.com's New Study Shows Clear Gender Gap in Financial Education
Financial literacy should be taught early; nearly 20% of survey respondents say they didn't learn financial responsibility from parents FOSTER CITY, Calif.,
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[{"type":"text","content":"Financial literacy should be taught early; nearly 20% of survey respondents say they didn't learn financial responsibility from parents\n\n\nFOSTER CITY, Calif., June 2, 2021 /PRNewswire/ -- Women report drawing the short stick when it comes to early education on managing finances. A new in-depth study from credit card ratings leader CardRatings.com explores the real world impact of the financial literacy gender gap, revealing women respondents were taught far less than their male counterparts. But female respondents who are parents are working to change that trajectory for the next generation. Male parents? Not so much. \n\n \n \n \n \n \n \n\n \nIn the newly-released study, the Gender Gap in Financial Literacy, experts analyze survey results to explain the lingering disparity in financial literacy. \nCardRatings asked 800 Americans about financial education experiences, including how their parents/caregivers addressed the topic with them. The survey then asked respondents how they are approaching the topic with their own children. \n\"Women are trying to close the financial literacy gap with their own children,\" observes Brooklyn Lowery, CardRatings' editorial director. \"Men are trailing behind in this area, and it's concerning. It's important to get an early start on financial literacy education—the gift that keeps on giving.\" \nEarly education, according to survey findings, makes an impact on whether respondents feel adequately equipped to deal with the financial aspects of life. While men have made strides in teaching financial literacy to their children, they remain more likely to leave their girls out of the conversation. \nWhen asked at what age their parents began discussing financial responsibility, responses run the gamut: \nUnder 10: 16% Ages 11-15: 32% Ages 16-18: 21% Ages 18-22: 9% Ages 23 and older: 4% Never: 18%While more women of today's generation are teaching both boys and girls financial matters at appropriate ages, a divide between how male and female children are educated on the topic persists. \n\"The results shine a light on the fact that while more kids are being educated about money overall, there's comparatively an increased likelihood that girls are missing out on this critical information,\" continues Lowery, \"In fact, male respondents are three times more likely to neglect the financial educatio...