In the report, they argue that there is a strong correlation between financial education, access to finance and sound markets. This gap is a key obstacle to building stronger, more accessible and sustainable markets around the world.
According to the study, the United States, with a financial literacy rate of 57%, leads a handful of countries such as Germany, Israel, New Zealand and Norway that also showed high financial literacy rates.. In these countries, the gap between men and women is smaller and it was shown that the higher rate of financial education correlates positively with the long-term saving of both women and men (considering the years after retirement) and with the probability that Said savings are made within a financial institution, making use of financial products such as savings or investment accounts.
As a consequence, a greater number of people benefit from access to financing in order to achieve their planned objectives. On the contrary, in economies where literacy is radically lower, women are less likely to obtain credit, or simply to have an emergency fund for when they have specific financial needs. This is in addition to the income gap that is often stronger in weaker economies.
“Access to basic knowledge in relation to personal finances should be a priority, along with the development of economic autonomy. Depending on another person in this sense, both due to lack of education and the possibility of generating their own income, has a very special impact on women, limiting their development, their possibilities of projecting the future and the general well-being of both themselves and those around them. . Let’s not think that only those who do not have access to this training delegate the management of their finances and family to another person, it is striking to see that even those who have higher education and a good income of their own also do so, suffering the consequences later. I see it daily. It would be ideal to become aware of all this when you are very young, in any case, it is never too late to start. Today we have multiple investment options regardless of the amount, there are instruments for everyone. It is a matter of finding professional advice specialized in people who are taking their first steps in the field and beginning the essential task of managing your future”, commented Gabriela Terminielli, Master in Business Administration, Bachelor of Psychology specialized in women, Co Chair of Women Corporate Directors Argentina and director of BYMA Bolsas y Mercados Argentinos.
“When I began to take my first steps in the world of work, I had the objective of creating savings with my salary and with that capital I made fixed terms in the bank since I was unaware of the existence of other investment instruments. Fortunately, from a very young age I learned (bumping into the wall) that in reality I was decapitalizing myself, since the interest rate of the fixed term was not able to compensate for inflation. This frustration was my motivation to approach the stock market. From taking care of my savings, I started to generate a second source of income, until I finally quit my office job to dedicate myself to being a private investor. When I started down this path, I noticed a low female participation as a student in different investment courses, since she was usually the only woman present in the room. At first I was disappointed not to have friends to talk about investment topics, like any other coffee chat. However, every day I meet more women involved in this world. I am sure that many women must have concerns or needs similar to the ones I went through; and I hope that helping to spread financial education can motivate them to want to participate in this activity that I enjoy so much”, explained Mariela Capezzuoli, Bachelor of Administration and private investor (@marucape_).
“There is a cultural variable in the issue of gender and financial education, and that is one of the factors that widens the gap. This is seen when at a dinner men talk about investments and women talk about something else, when the conversation starts to be about crypto and many women say “oh no, I don’t know anything about that”, or whenever it is delegated in the man of the house an important financial decision, such as which car to buy. Personally, what worries me is that I see this happening to a greater extent in the entire sector of the economy that was born thanks to the innovation proposed by blockchain and cryptocurrencies, because I think they are the most important development since the Internet emerged. They are too important to delegate their use and construction entirely to half the population. Let’s start, I suggest, by making a little effort to reverse the cultural trend, learn, at least a little, participate in the conversation and understand that none of these issues are men’s issues. Earning, managing and investing money is also a women’s issue”, remarked Olivia Goldschmidt, Finance Journalist and collaborator at La Nación (@oligolds).
It is clear that it will take years to reverse this disparity, and that it will take many actors from the financial/capital market itself and – also from external actors – to drive a robust change in this direction. The results of the study make it clear that promoting the participation of women in the world of investments is a determining issue, for their personal prosperity and to contribute to a more equitable future for all.
In this context, the SBS Group seeks to more effectively promote the participation of women in finance. Since the launch of Quicktrade (an APP designed to be the financial technological arm of the group, so that anyone can access the world of investments from the comfort of their cell phone simply, quickly and without minimum amounts) and Quicktrade API Market We noticed that more and more women are asking about our products and services and are curious about becoming investors and learning more about capital market products.
“This shows that the traditional stereotype of the person who is interested in investing is outdated. Many women are interested in investing, and the more we participate in motivating this from all sectors of society, the greater the benefit in generating the change that is occurs when women begin to use investment instruments to achieve their goals in terms of personal finances”, they assure from the SBS.
“There is a wide variety of investment products and many technological tools that make accessing them very easy. Consequently, only through financial education, making these products and their advantages known and breaking the false belief that the capital market is only for some, we are going to be able to contribute both to reducing the gender gap in financial literacy and to contributing to more financial inclusion in Argentina”, they add.
Source: Ambito
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