Summary of Empowering Women Through Financial Awareness and Education

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Empowering Women Through Financial Awareness and Education summary
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Rating

6 Overall

8 Applicability

7 Innovation

6 Style

Recommendation

Economic experts Angela Hung, Joanne Yoong and Elizabeth Brown reach some disturbing conclusions: An enormous chasm separates how much women know about money compared to how much men know about it. Worldwide, the most vulnerable women – widows, the elderly and the poor – are even more at risk due to their lack of financial savvy. Gender-based disparities in “financial literacy” raise problems for entire economies, but many governments don’t regard these issues as important. Reporting for the Organisation for Economic Co-operation and Development (OECD) and its International Network on Financial Education (INFE), the authors present an array of sobering facts and trends based on their analyses of studies and surveys from dozens of countries. Hung, Yoong and Brown find that women learn about financial matters and value money differently than men. They describe the worrisome deficit in female fiscal understanding, and they propose solutions. getAbstract recommends this detailed report to economists, and to those involved in nonprofits or policy studies that benefit women.

In this summary, you will learn

  • How “financial literacy” gaps separate men and women,
  • Which women are most at risk, and
  • What proposed solutions may help close the gap.
 

About the Authors

Angela Hung, Joanne Yoong and Elizabeth Brown are economists at the RAND Corporation, a nonprofit global-policy think tank.

 

Summary

What Is “Financial Literacy”?
The Organisation for Economic Co-operation and Development (OECD) defines financial literacy as the “combination of awareness, knowledge, skill, attitude and behavior necessary to make sound financial decisions and ultimately achieve individual financial well...

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