Issue 08: Empowering Young Women: Generating and Managing your Finances
Empowering Young Women: Generating and Managing your Finances
Mary Esposito
In today’s world, young women are breaking barriers, embracing opportunities, and redefining societal norms. However, there still exists a disproportionate number of women lacking in knowledge about personal finance, and in higher positions of power. Young women must prioritize financial literacy so that they can grow and manage their money, thus fostering independence and self-confidence.
Below are five key ways for women like me to rethink money management and reach our financial goals.
Financial Education
Education is the cornerstone of financial empowerment. Learn about basic financial concepts such as budgeting, saving, investing, and managing debt. By fostering a strong foundation in financial literacy, we can make informed decisions about our money, enabling us to plan for the future.
Entrepreneurship and Innovation
Entrepreneurship nurtures a sense of creativity and resourcefulness. Explore your passions and talents, and transform them into viable businesses. I have scaled my crochet business to half a million social media followers on @shoppurplepear (Instagram/TikTok). With the rise of online platforms and social media, young female entrepreneurs like me can leverage their skills to create online businesses, reaching a global audience and generating income.
Embracing Technology
In the digital era, technology offers many opportunities for young women to make money. Whether it’s through freelancing, content creation, or online tutoring, the internet provides a platform to showcase our skills and expertise. Embracing digital payment systems and understanding online financial tools can equip us with the necessary knowledge to navigate the virtual landscape effectively.
Investing and Wealth Building
Understanding how investing works dispels the myth that it’s a complex realm reserved for predominantly male experts. Learning the basics of investing in stocks, mutual funds, or real estate can pave the way for long-term wealth creation. By starting early and investing consistently, young women can harness the power of compounding, ensuring financial security and independence in the future.
Financial Confidence and Advocacy
Building financial confidence is crucial for girls to assert our value in financial discussions and negotiations. Encouraging other young women to voice their opinions, ask questions, and participate in financial decision-making processes promotes a sense of agency. Moreover, advocating for financial equality and breaking gender-based stereotypes in the financial sector creates a more inclusive environment, empowering girls to pursue careers in finance and economics.
By rethinking money management and money generation, young girls can embrace financial independence, drive positive change, and inspire future generations of empowered women.
That is why I teach free accessible financial literacy on my educational platform @moneywithmary (TikTok) and @moneywithmary1 (Instagram). Through these efforts, I hope to create a world where every girl has the knowledge and confidence to shape her financial future.
