“Personal Finance Resources for Women: Tools to Bridge the Gender Gap”

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Women and Personal Finance: Overcoming Unique Challenges

Women often face distinct challenges in personal finance, including a persistent gender pay gap and time out of the workforce for caregiving. 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 disadvantages.

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 site offers a blog covering topics like budgeting, saving, career, taxes, credit, and real estate. Additionally, it provides 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

Certified financial educator Bola Sokunbi founded Clever Girl Finance after saving $100,000 in three years on a $54,000 salary. The platform helps women achieve financial independence and stop living paycheck to paycheck. It features educational articles on credit, debt, real estate, investing, budgeting, and more. Over 30 free online courses cover topics such as buying your first home, increasing your income, mastering student loans, and getting out of debt. The site also offers 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 an IRA, 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, includes 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

Founded by Dana Miranda, Healthy Rich 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 site 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

Wealth and investment advisor 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

Founded by Emma Johnson, Wealthy Single Mommy provides advice and resources for single moms, whether never-married, divorced, widowed, gay, or straight. The site features fact-checked posts by authors with top credentials, covering money, dating, divorce, parenting, and career. It also offers free resources, a Facebook group, and a large 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 retirement planning, 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 join or start a Money Club for hands-on learning with the help of an expert Money Guide.

Women Who Money

Women Who Money helps women build and protect their net worth with content on saving, investing, estate planning, real estate, entrepreneurship, and relationships. The site includes directories of personal finance professionals, reviews of finance apps and books, and a community of women. Articles are searchable by topic or personal finance sophistication level.

The Budgetnista

Tiffany Aliche’s Budgetnista blog covers credit, debt, investing, retirement, budgeting, saving, and more. The site 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 take charge of your personal finances. Start by checking your credit report for free to ensure it’s current. Consider signing up for Experian’s free credit monitoring service to receive alerts and keep an eye on your credit.

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

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