A recent report on the gender wage gap is old news. The results have been the same for years and years: Women, on average, are earning about 22% less than men for doing comparable work. We’ve heard all sorts of reasons for this inequality.
What is often overlooked, however, is what happens during childhood. How we as parents treat our girls vs. our boys when it comes to all matters financial.
As parents, we tend to worry about whether our girls have a positive body image, are getting enough exercise or gaining confidence in math and science. It’s just as important for us to focus on getting our daughters financially fit.
How do we do that? Start early.
Send the right “money messages.” It’s important to send the same money messages to girls as to boys. Money messages are ways to increase kids’ ability to think positively and proactively about money, as they age. Regardless of whether our daughters will grow up to be bankers, ballerinas or stay-home moms, they’ll then be financially fit and ready to make the most of who they are and what they have.
Seek out role models for your daughter. Do you have a friend who’s a high-level woman executive, a real estate developer, a chief scientist? Invite her to dinner or go on a hike with her and your daughter. Talk about work. Draw your daughter into the conversation.
Let your daughter know about the pay gap between men and women. The more girls know about the pay gap, the more they’re likely to overcome it as working women and to gain confidence in negotiating for higher pay. The 2023 Report on the Gender Pay Gap by the American Association of University Women is a really great read.
