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Empowering Women in Personal Finance

Women often encounter unique challenges in personal finance, such as the persistent gender pay gap and time taken off work to care for children or parents. These factors can result in lower lifetime earnings compared to men. On average, a woman’s retirement income is 70% of a man’s, yet it must last longer since women typically outlive men by four to five years. Fortunately, numerous resources and tools are available to help women overcome these financial hurdles. Notable examples include the Budgetnista, Ellevest, Clever Girl Finance, and HerMoney.

Clarissa Explains Money

Money coach Clarissa Moore, a single mother of two, launched her business after paying off nearly $40,000 in credit card debt in just 16 months. Her platform, Clarissa Explains Money, aims to close the gender gap in financial literacy and assist working women in earning, managing, and growing their money. The blog covers topics such as budgeting, saving, career, taxes, credit, and real estate. Additionally, it offers financial calculators, a free financial plan, online courses, and ebooks. For personalized guidance, you can sign up for one-on-one financial coaching.

Clever Girl Finance

After saving $100,000 in three years on a $54,000 salary, certified financial educator Bola Sokunbi founded Clever Girl Finance to help women achieve financial independence. The site features educational articles on credit, debt, real estate, investing, budgeting, and more. Over 30 free online courses cover topics like buying your first home, increasing income streams, mastering student loans, and getting out of debt. The platform also includes podcasts, books, videos, and a community of like-minded women.

Ellevest

Ellevest, co-founded by Sallie Krawcheck, offers goal-focused investment strategies tailored for women’s longer lifespans and lower incomes. For $5 per month, Ellevest Plus members receive IRA and retirement planning assistance, a no-minimum investing account, free live workshops, and a 30% discount on one-on-one coaching. Ellevest Executive, at $9 per month, provides five investing accounts and a 50% discount on live workshops. Members also have access to an online magazine, Instagram community, email courses, and videos.

Healthy Rich

Healthy Rich, founded by Dana Miranda, promotes developing a healthy relationship with money as the foundation for achieving financial goals. The site critiques “budget culture” and presents diverse perspectives from women, LGBTQ+, and BIPOC individuals. The blog and podcast are free, while paid subscriptions ($7 per month) support the ad-free site and provide access to online courses.

HerMoney

HerMoney, led by CEO Jean Chatzky, aims to level the playing field for financial confidence. The platform offers daily content, newsletters, and podcasts on career, saving, budgeting, investing, insurance, real estate, retirement, and more. You can join the investment club Investing Fixx for $39 per month or take the 8-week Finance Fixx course, which includes one-on-one coaching and small group learning, for $395.

The Millennial Money Woman

Inspired by her grandparents’ financial struggles, Fiona Smith launched The Millennial Money Woman to help others optimize their finances and build generational wealth. The site offers advice on generating income, budgeting, debt, and investing, along with free resources like budgeting templates.

Wealthy Single Mommy

Wealthy Single Mommy, founded by Emma Johnson, provides advice and resources for single moms. The site features fact-checked posts on money, dating, divorce, parenting, and career. It also offers free resources, a Facebook group, and what Johnson claims is the world’s largest single-mom community.

WISER Women

The Women’s Institute for a Secure Retirement (WISER) educates low- and middle-income women about saving for retirement. The site covers topics like divorce, widowhood, caregiving, financial fraud, health and long-term care, saving, and investing. WISER Women also provides fact sheets, resource guides, and newsletters that simplify complex financial issues.

Women’s Institute for Financial Education (WIFE.org)

Since 1988, WIFE has been educating women on gaining financial independence. The site offers content on debt, investments, saving, budgets, taxes, divorce, widowhood, retirement, and family finances. You can also join or start a Money Club to learn money management skills with the help of an expert Money Guide.

Women Who Money

Women Who Money is dedicated to helping women build and protect their net worth. The site features content on saving, investing, estate planning, real estate, entrepreneurship, and relationships. It also includes directories of personal finance professionals, reviews of finance apps, books, and tools, and a community of women. Articles are categorized by topic and personal finance sophistication level.

The Budgetnista

Tiffany Aliche, known as the Budgetnista, claims to have helped over 2 million women pay off hundreds of millions of dollars. Her blog covers credit, debt, investing, retirement, budgeting, saving, and more. The Budgetnista also offers free downloadable guides and checklists. For $49.99 per month, you can join the Live Richer Academy and access over 100 financial courses, personal finance experts, and a Facebook community.

Take Control of Your Financial Future

It’s never too early—or too late—to start taking charge of your personal finances. One easy first step is to check your credit report for free to ensure it’s current. Consider signing up for Experian’s free credit monitoring service to receive alerts that help you keep an eye on your credit, no matter how busy you are.

For any mortgage-related needs, feel free to call O1ne Mortgage at 213-732-3074. We’re here to help you navigate your financial journey with confidence.

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