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ETF-INVESTMENT

Finance is female

Why we need offers specifically for women


✨ by finance, baby!


Female finance - is this a trend that is actually needed or just bullshit? What should be handled differently for women* than for men*? Do we really need offers that are specifically geared towards women?


We say quite clearly: YES, UNCONDITIONALLY. We explain why in this article.

"Women just aren't interested in money".


If we hear this sentence again, it may well be that one of us will have our head explode. Of course, we can't generalize anything and we don't want to say that EVERY woman in Germany or in this world wants to take care of her own finances and be financially independent. And that's okay.

But we can speak for many women and clear up this sentence once and for all: we are interested. We want the same financial opportunities. But we don't know where to start and we have a lot of respect for doing something wrong.


We are behind!


And there are good reasons for that: did you know, for example, that women in Germany have only had the right to open a checking account since 1958? That women have only been allowed to vote and be elected since 1919? That women have only been allowed to decide voluntarily whether to go to work at all since 1958?


When we look at these facts, it's really no wonder that we have a lot of catching up to do when it comes to our finances.


Moreover, due to these circumstances, among others, and due to our associated low financial self-confidence, we are struggling today with gender paygap, pension gap and the like.


And this struggle is not without. Because if we don't counter it, here's what our future looks like: Women received an average pension of €543 in 2019. That's over 58% less than men - and anyone who can read numbers has also noticed that this amount will never be enough to survive independently.


Then we have another big problem:


Financial education is unfortunately hardly considered in the current school system, which is equally negative and urgently necessary for all people. However, if we then take a look at further education, namely fields of study, women are clearly behind in finance. As a result, tenure, promotions, and life tenure for women in economics faculties in finance is just 10-25%. In accounting, instead, women are represented at nearly 90%.


But what is the reason for this? According to studies, it is believed that women are not good enough at math to succeed in the field. This belief has become widespread in our socialization and has already shaped decisions for majors and careers. Even in children's books, girls are shown with pink horses and cooking pots, while anything to do with big business is always done by men. We internalize what we see - and make it our reality.


And there is also a huge gaping gender gap in finance. That means men are primarily in leadership positions and align financial structures. Please don't get us wrong: we love men (and all who feel they belong to whatever gender!). We see the only chance for equality only in reversing what has happened the last centuries to the advantage of men. We have to optimize structures for women and create offers especially for women.


What exactly do we have to do differently for women than for men?


The most frequent question we are asked is what needs to be explained differently for women than for men. One of the most frequent criticisms that Female Finance offers have to contend with is that "gearing offers specifically to women would imply that women don't understand the technical language". But that's absolutely not the point. The point is that we need to ENCOURAGE more women to engage with the topic in the first place and to reshape the reality they have built for themselves through social and societal conditioning. And that can be done through language and approach, through people. Through special offers for women.
Women have different life situations.


Nevertheless, there are differences between men and women, if we assume that more than 90% of mothers still tend to take parental leave and that a full 85% of single parents are women. Women face different life situations - and with those life situations come different challenges than with a 9 to 5 full time job and a full engineering or management consultant salary.


Special offerings for women ARE not hokum. They try to close the gap and help us a bit towards equality, which we desperately need. The doubts we women have are valid. The fear is legitimate. We need to create an understanding of it. A way. A little more openness and above all: encouragement to take the first step.