Your Financial Story Matters!

Financial Literacy Month is a national awareness campaign every April in the United States. The campaign is designed to promote financial education and highlight the importance of personal financial management. This month, we are honoring your financial story, because it matters! 

Oftentimes, we feel ashamed of our own financial story or intimidated of speaking about it. 

Collectively, we wanted to gather a list of steps that you can take today to improve your financial story and a list of resources to help you reach your financial dreams and aspirations. 

Financial literacy is particularly important for women because of several factors that can impact our financial well-being. These factors include lower earnings, longer lifespans, and higher rates of caregiving responsibilities.

To improve financial literacy among women, there are several steps that can be taken:

1. Start with the basics: Encourage women to educate themselves about basic personal finance topics such as budgeting, saving, investing, and debt management. Many online resources, including free courses and workshops, are available to help women learn about these topics.

2. Empower women to negotiate their salaries: Women often earn less than men in the same roles, so it’s important to encourage women to negotiate their salaries and advocate for themselves in the workplace.

3. Discuss retirement planning: Women generally live longer than men and may need to save more for retirement. Encourage women to start planning and saving for retirement early in their careers, and consider seeking professional financial advice.

4. Address the gender wealth gap: Women often have less wealth than men due to lower earnings and career breaks for caregiving. Encourage women to invest and save as much as possible, and to consider entrepreneurship or other ways to generate income.

5. Address financial abuse: Financial abuse is a form of domestic violence that affects many women. Encourage women to learn about the signs of financial abuse and seek help if necessary.

Here at the chamber, we are committed to improving financial literacy among women and providing opportunities to female founders and beyond. Our mission is to continue to educate women about personal finance and empower them to change their financial trajectory and achieve financial security for themselves and their families. 

Check the resources below for more information: 

• Axis Helps Miami: Axis Helps connects Miami-Dade residents and small business owners to the resources to overcome today’s challenges, and emerge with stability and strength.

• I Fund Women: iFundWomen is an important resource for female entrepreneurs who may face unique challenges and obstacles when launching and growing a business. By providing access to funding, coaching, and connections, the platform is helping to level the playing field and support women in building successful businesses.

• Women For Success: Women for Success provides self-identifying women with a supportive community where they can receive free workshops, tools, resources, mentorship, and small business grants to ensure every woman has a chance to define success on her own terms.

• StartUP FIU: StartUP FIU is a university-wide innovation hub that fosters and develops entrepreneurship and innovation to help our students, researchers, and community connect, contribute to, and thrive in today’s fast-changing world. 

• Catalyst Miami: Catalyst Miami is an important organization working to address the root causes of poverty and inequality in South Florida. Through its programs and initiatives, the organization is empowering individuals and communities to create positive social change and build a more just and equitable society.

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Whether you’re just starting out in your financial journey or looking to improve your existing financial skills, check out the resources above. Our goal is to continue to uplift you as you continue to become #financiallyfit and help you re-write your financial story. 

Special shoutout to Dr. Nicole Garner Scott and Vivian Olodun for being the guest speakers of our Instagram Live Series this month in honor of Financial Literacy Month. Catch the recordings here.