Money In Our Pockets: An overview of resources to help you plan for your financial future.
Money talk is something women need to start getting really comfortable with. For starters, our place in the financial market is steadily growing, our influence as consumers and financial decision-makers is too impactful to dismiss, and more women are going into business than they have in any other time in history. So how do we get a handle on understanding terms like bitcoin, cryptocurrency, learning how to invest in the market, plan for retirement and gain insight to be our own financial investment? We talk to experts, do the research and learn as much as we possibly can.
Below is a look at the latest in the financial and investment markets.
Cryptocurrency and blockchain
Breaking down exactly what they are.
By Sylvia Kwan in Magazine
That root — “crypto” — means “secret” or “hidden.” In the context of cryptocurrency, it really means anonymous (or almost anonymous, depending on how the currency’s set up). Cryptocurrency is a form of money that a) isn’t issued by a central authority, like a government, and b) uses cryptography — the practice of storing and transmitting data for secure communication. Bitcoin is the best-known cryptocurrency, but definitely not the only one.
You might have also heard the word “blockchain.” In the context of cryptocurrency, that’s a public record of past transactions: Every time someone completes a transaction, it gets recorded in a “block” and added to the “chain” of transactions. Then the algorithms make sure the record can’t be altered.
What is the “She-cession” affecting working women?
The pandemic has taught us a lot of new vocab words…from fun ones like “quaranteam” to the not-so-fun. Like “she-cession.” That’s a nickname for the current economic downturn, which is disproportionately affecting working women. Especially women of color.
Tomorrow, the Skimm Money newsletter is going deep on all things she-cession. Think: how more than 2 million women have already left the workforce, why impostor syndrome is especially harmful right now, and more. Sign up to get Skimm Money in your inbox tomorrow afternoon.
(The she-cession newsletter was suggested for Sheville by Lytingale )
5 Ways to Be a Financial Feminist in 2021
Yes, you can take control of your income, passive or otherwise.
By the ELLEVEST Team
The pandemic and “she-cession” of 2020 brought a lot of things to light … and not all of them were great, to be totally honest. With 865,000 women leaving the workforce in just one month in 2020, it became very clear that, as sociologist Jessica Calarco says: Instead of a social safety net, the US has women. That the gender pay gap will likely widen because of the women who needed to leave the workforce. That so many of us were hit hard, especially BIPOC women and trans people.
It also taught us some other things, though. Like the power of speaking out about racial justice. The remarkable things women+ can do when we use our power and our resourcefulness. How many financial feminists are out there fighting to grow their companies, fighting to drive change, fighting to keep going.
Tailor-Made in Kenya
Women entrepreneurs fight Covid slump with new business ideas.
Sponsored content: Kenyan women enrolled with the BOMA Project have turned to making face masks for income as livestock markets are shut down.
Three women in Samburu County, northwestern Kenya, started a tailoring business to diversify their income streams and increase their resilience to the impacts of both coronavirus and the climate crisis.
Like many pastoralists in Northern Kenya, these women traditionally depend on livestock markets to make a living, but the government closed them down after the outbreak of Covid-19. To adapt, the group invested in a second-hand sewing machine and are now making face masks, which they are selling across the region.
The Money Talk
Women discussing brass tax: a.k.a. their Parents’ Retirement plans.
by the ELLEVEST Team
Not-so-fun fact: 61% of women say they’d rather talk about their own death than have a conversation about money. That’s some societal money taboo BS, and we’re ready to change that. So this is The Money Talk, a series in which we’ll be answering example* questions on how to kick-start important money convos.
I have a big family event coming up, and I can’t wait to see everyone. There’s just one problem: I need to have a long-overdue talk with my parents. The thing is … I think maybe I’m their retirement plan. Either that or they just don’t have one.
120 Businesses Owned by Native American Women
The power of indigenous women in business.
Like Black women and Latinx women, Native American women running businesses face extra hurdles. Businesses owned by Native women have been growing faster than average over the last five years, but their businesses generate less revenue due to systemic racism and sexism. It’s estimated that if businesses run by Native women were equal to those run by white women, they’d add an additional $27,102,284 to the economy.