Against the Finance World’s ‘All-Boys Club’
Sisters Margot and Alexia de Broglie are the co-founders of Your Juno, a financial education app for women and non-binary people that aims to close the gender investing gap. For them, feminism begins with finance. Here, they outline how women can empower themselves and become financially independent.
“Society, with its archaic norms, hasn't exactly rolled out the welcome mat for women in finance. From the glaring gender pay disparities to financial marketing that seems to have an ‘all-boys club’ stamp, the exclusion is glaringly obvious.
“The narrative that women are inherently less financially savvy is not only outdated but also patently false”
“This exclusion doesn't just mean we're missing out on the party. It signifies a deeper issue – a gaping void in our financial education and accessibility, making the financial world seem daunting and impenetrable.
“The stereotypes don’t help either. Branded as ‘impulse buyers’ and ‘'shopaholics’, women are often boxed into caricatures that do little more than erode our confidence in money matters.
“It’s time to debunk the myth. The narrative that women are inherently less financially savvy is not only outdated but also patently false. By staying on the sidelines of financial engagement, we're not just missing out – we're actively disempowering ourselves.
“So, here’s why financial literacy for women matters:
We’re kept in the loop A lack of financial literacy impacts women’s ability to make smart financial decisions, invest in the stock market, and build their wealth. What is in our power is the choice to change this - we shouldn’t have to stay on the back foot.
Good opportunities won’t pass us by Combined with existing inequalities, it’s estimated that as women we miss out on £1 million across our lifetimes. Just imagine the world of good you could do with that money...
We regain our independence Financial inequity has often been used to keep women in positions without power, leaving them dependent on men.
It’s a fast track to a level playing field The pandemic has disproportionately affected women, with sectors heavily populated by women taking the hardest hit: retail, hospitality and childcare. It’s more important than ever we bridge that gap.
We can raise a generation of future feminists “Studies show children as young as five develop emotional responses to spending and saving money. These emotional responses which they would have largely picked up at home, from their families and surroundings, can determine which learned behaviours they develop later on in life. Whether you’re a mum, auntie or cousin, we should want to raise the next generation of financial feminists, break the money taboo, and teach them everything we wish we had known too.”
“Now you may realise, if you haven’t already, why it’s vital we empower ourselves and become financially independent. But how to go about this?
MONEY MATTERS
Why financial literacy is important
“Society, with its archaic norms, hasn’t exactly rolled out the welcome mat for women in finance,” according to Your Juno’s co-founders. “From the glaring gender pay disparities to financial marketing that seems to have an ‘all-boys club’ stamp, the exclusion is glaringly obvious. But here are five reasons why financial literacy for women matters.”
1. We’re kept in the loop
2. Good opportunities won’t pass us by
3. We regain our independence
4. It’s a fast track to a level playing field
5. We can raise a generation of future feminists