Female Finances – Naddosha http://www.naddosha.com/ Fri, 11 Jun 2021 22:19:21 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 The hot new place for personal finance advice? TIC Tac http://www.naddosha.com/the-hot-new-place-for-personal-finance-advice-tic-tac/ Fri, 11 Jun 2021 10:00:08 +0000 http://www.naddosha.com/the-hot-new-place-for-personal-finance-advice-tic-tac/

TikTok, the Chinese social media app best known for its young users and viral dance videos, is quickly becoming a forum for a different kind of moves: what to do with your money.

Search for #personalfinance and you will find that the videos associated with the hashtag have been viewed 4.3 billion times, while the #personalfinancetips content has 33 million views. The proliferation of money chats on TikTok, which has around 1 billion monthly users, indicates an increasingly eager audience for help on how to manage their money.

Just ask Tori Dunlap, a financial and professional coach best known on the app as @ herfirst100k. Dunlap, which aims to help women take control of their financial lives, joined TikTok last July and has since amassed 1.6 million followers.

“It proved to me that the folks on TikTok needed this financial advice. I didn’t think Gen Z would care, but they do a lot of it. It proves it’s needed in a non-judgmental way. and without shame, ”she told CBS MoneyWatch.

Dunlap, 26, often discusses topics such as why it’s smart to start investing early in life, how to pay off debt, and job interview advice. The areas of investing and personal finance can seem impenetrable, “and one of the reasons women lack financial equality and we are left behind is that we haven’t learned these things. Our goal is to translate it into English for everyone, especially women, ”said Dunlap.

Nicole Victoria, who runs the @nobudgetbabe account with over half a million subscribers, also wants to empower women in particular to be confident about their finances.

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Nicole Victoria, who manages the @nobudgetbabe account on TikTok, helps her more than 500,000 followers, many of them young women, take control of their finances.

Courtesy of Nicole Victoria


“When it comes to personal finance for women, they are told to stop shopping and spending money on Starbucks. And when it comes to advice for men, they are taught how to invest,” he said. declared Victoria. “I want people to know that cutting costs is just one part and that you don’t have to give up everything you love to get ahead financially.”

A large number of subscribers can also open up new revenue streams for the most popular TikTokers.

Nick Meyer, or @nicktalksmoney, is a 25-year-old Certified Financial Planner with over half a million subscribers on TikTok. He produces educational videos about money and the stock market – in addition to his daily work as a tax advisor at a small accounting firm based in Minnesota.

TikTok pays him a nominal fee per video viewing, which is enough for “about two weeks of racing,” Meyer said. But the real money, he said, comes from branded partnerships, including collaborations with tax preparation software TurboTax and Public.com, a platform that allows members to hold fractions of tax. ‘actions. “Once you start to have more subscribers, they become a lot more important. In the last couple of months, once I hit 100,000+ subscribers, I got a lot of deals from. brand, ”he said.

Meyer’s TikTok video earnings now rival what he earns in his day job. Stopping “is probably something I will consider in the next few months,” he said.

“An extremely powerful platform”

Delyanne Barros, a lawyer and money coach who calls herself @delyannethemoneycoach, said she joined the platform to educate people like her who are young, female and Latino – and not used to learn to invest from their peers. Barros joined TikTok over a year ago and knew she was on to something when her follower count quickly grew to over 180,000.

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Delyanne Barros said her 180,000 TikTok followers enjoy learning about personal finances from someone they can relate to.

Courtesy of Delyanne Barros


“I realized that it was an extremely powerful platform and that people were hungry for this kind of information, especially the millennials and millennials who never found this information elsewhere. No one has talked about it with them at work or in their family, and suddenly here it’s on TikTok, “she said.

Barros’ videos have covered topics ranging from debunking common investment myths to explaining the differences between savings accounts. She is also transparent about how much money she earns and spends.

“I teach new investors how to invest in the stock market and I’m on long term investing, not meme stocks, day trading or crypto. I’m just trying to teach people what a 401 (k) is. (k) and an IRA, ”Barros said. “It comes down to the basis of long-term investing, which can be unpopular on TikTok where users hear about GameStop and AMC.”

“It distorts what the investment is supposed to be”

Indeed, some of the investment education on TikTok comes from legitimate and well-meaning creators like Dunlap and Barros, who are either knowledgeable financial coaches or even certified financial advisors who want to help 20 and 30 year olds. to learn the fundamentals of investing and managing their money.

But there is a gap between these types of creators and what critics call unskilled users who share bad financial advice with inexperienced or untrained TikTokers.

Examples include recommendations to invest in individual stocks and cryptocurrencies regardless of what the fundamentals of the investment suggest about their high prices and risks. Beware of any clues that emulating another person’s investment strategy will also work for you. Caveat emptor, also, any promise to “get rich quick”.

“It skews what investing is supposed to be, and some people say, ‘Why am I going to invest for 20 years when I can earn this amount overnight? “” Barros said.

Dunlap advises investing for the long term, but recognizes that it may be at odds with the most popular type of content on TikTok.

“The definition of investing is putting time, sweat, blood and tears into something for a long time. Investing shouldn’t be sexy; it should be consistent and stable over a long period of time. time, ”Dunlap said.

“No cookie cutter advice”

So how can a newbie to personal finance tell the difference between good advice and bad advice?

  • Know who you are receiving advice from. A quick internet search will likely tell you enough about a person to indicate whether or not they are qualified to talk about personal finance. For example, they may have confirmed credentials such as CFP (for Chartered Financial Planner), CPA (for Chartered Accountant), or RIA (Chartered Investment Advisor). “Ask the source. Do your research on who you are taking this education to. You need to determine if this is something that might even work for your life,” said Victoria of @nobudgetebabe.
  • Trust your instincts. “If someone says you can make $ 1 million in a week, then yes, that’s too good to be true. If your gut tells you something is wrong, you probably shouldn’t trust that person, ”Dunlap said.
  • Don’t trust the advice of designers who know nothing about your personal finances. “There is no cookie cutter advice that works for John Doe and Jane Smith. It is done on a case-by-case basis and it depends on many factors,” said Jeffrey Feinman, a New Yorker. CPA and partner of accounting firm DDK & Co. “I would be reluctant to take advice on TikTok as it is a personalized decision and depends on many factors including current earning capacity, future earning capacity, that you are the beneficiary of a confidence, age, all of those things. “
  • Don’t expect to learn everything in 60 seconds. Think of a video as an introduction to a topic or concept that needs to be explored further. “I hope you engage more with this content, and don’t just say, ‘Okay cool, I watched the video – I know all there is to know now.’ said Dunlap.
  • Ignore users who promote so-called “secure uninterrupted compound interest accounts” on 401 (k) and other traditional savings and investment products. “If you’ve never heard these words before, beware as this is just a name for something else like life insurance that young people in particular don’t need,” said Barros. And Feinman took issue with the unfounded claim heard on some TikToks that investing in a 401 (k) is a bad idea: “I think the 401 (k) is a good vehicle,” he said. “I always recommend maximizing the amount so that instead of paying taxes, you use what you’ve saved in taxes to invest in yourself. I don’t agree with the advice not to and to put it in those other products instead. “

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Annita Demetriou, first woman President of the Cypriot Parliament http://www.naddosha.com/annita-demetriou-first-woman-president-of-the-cypriot-parliament/ Thu, 10 Jun 2021 17:06:05 +0000 http://www.naddosha.com/annita-demetriou-first-woman-president-of-the-cypriot-parliament/

The plenary session of the Cypriot Parliament elected Annita Demetriou, 36, member of the Democratic Rally, as the new president of the legislative body.

Demetriou was elected with 25 votes in the second round, beating the other six candidates who were the leaders of the opposition parties, Proto Theme reported.

She is the first female Speaker of Parliament since the founding of the Republic of Cyprus in 1960.

Demetriou is vice-president of the Democratic Rally Party (DISY) in power since February 1, 2020.

She studied Social and Political Sciences at the University of Cyprus and holds an MA in International Relations and European Studies from the University of Kent in the UK.

In 2016, she was the first woman to be elected Member of Parliament for the constituency of Larnaca.

Demetriou was secretary of the parliament, vice-chairman of the parliamentary committee on education and culture, vice-chairman of the parliamentary committee on human rights and equal opportunities between men and women.

In addition, she was a member of the parliamentary committee for monitoring development plans and controlling public finances.

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She was the spokesperson for the President of the Republic Nikos Anastasiadis in the 2018 presidential elections.

In August 2019, she was appointed by the Board of Directors of the Network of Women Political Leaders (WPL), Ambassador of the Network on behalf of the House of Representatives.

Demetriou was selected by the French government to participate in PIPA in Paris in April 2018 and was selected by the US government (International Visitor Leadership Program) to observe the US primary elections in March 2020.

READ MORE: Senators Menendez and Rubio introduce legislation for unprecedented military support for Greece.


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If you are young and / or female, increase your finances with these six tips http://www.naddosha.com/if-you-are-young-and-or-female-increase-your-finances-with-these-six-tips/ Thu, 10 Jun 2021 13:47:51 +0000 http://www.naddosha.com/if-you-are-young-and-or-female-increase-your-finances-with-these-six-tips/

Important information:The value of investments and the income from them can go down as well as up, so you can get back less than what you invested.

Whether you are young or old, regardless of your gender, the pandemic, for most people, has been difficult. New data from Fidelity International1 shows two clear and disturbing trends that have emerged. And for those affected by both, the situation is potentially doubly precarious.

The first are women. As the pandemic has made saving and investing difficult for all women, single women have been hit the hardest, with more than a quarter seeing their incomes plummet, putting real pressure on their ability to protect themselves. financially.

But they are far from alone. The other group that has been hit the hardest is young adults, and government figures confirm these concerns, showing that almost half (48%) of those under 25 were unemployed at the end of 2020.2.

What all of this shows us is that a significant proportion of young people struggled financially during the pandemic, and they will likely continue to struggle for some time. They may have had to postpone certain life events, work longer, or turn to the savings they had to supplement their expenses. Deferred plans can have ripple effects and using savings or working more hours will undoubtedly cause long-term worries for those involved, and those anxieties can creep into everyday life and other concerns.

As for women in particular, more than a quarter (27%) of single women have seen their savings impacted, according to our data. In fact, this group struggled the most when trying to save or invest in the past year compared to single men (22%) or both men (23%) and women (21%) in a relationship with.

It is not a total surprise. Earlier this year, our research highlighted the disproportionate financial impact of the pandemic on women, after a year in which women were 1.5 times more likely to have lost or quit their jobs. , women were much more likely to be put on leave while many of those who stayed at work lost productivity due to family responsibilities and other pressures3.

What it does, however, is leave us in a position right now, in which certain sectors of society are much more disadvantaged financially than others, and that has far-reaching issues not only for this generation, but potentially for generations to come. Because, while the average person in the UK has £ 66,818 in retirement savings, it drops to just over half that amount – just £ 34,079 – for single women.

And, just like the pandemic itself, it’s not just a UK problem, of course. Research from Fidelity International, which is part of an international study of women’s finances in six key markets, including the UK, Hong Kong, China, Taiwan, Japan and Germany also found that 31% of all women saw the amount of money they were able to save in the past 12 months, compared to 26% of men. This trend is true in all the markets studied.

So what can be done? Well, as always, financial independence is in our hands. It is essential that we face the facts, take the necessary action and tackle head-on the financial side effects of the pandemic.

And, of course, you don’t have to be young and / or female to benefit from these six steps below.

1. Tackle all the debts that weigh you down

Borrowing money is not always a bad thing and can often be unavoidable in difficult financial situations. As long as you pay your bills on time, you’ll build a positive credit history. However, there comes a time when you can have too much debt, which can cause a lot of stress. If you’re struggling to pay off an overdraft, try to come up with a clear plan of how much money you can realistically afford to pay off each month. If you have credit card debt, focus on the ones with the highest interest rates first and keep track of your due dates so you don’t have to pay late fees.

2. Be honest with yourself about your relationship with money.

Watching where your money is going is a no-brainer, but all too easy to ignore when it comes to managing bad spending habits. The easiest way to keep tabs on your budget is to write down your daily, weekly, and monthly expenses. Like it or not, you’ll soon spot trends and themes. And don’t forget that there are plenty of tools and apps online to make the job a little easier.

3. Take the time to think carefully about your next big life decision.

Given the financial challenges of the past year, it’s no wonder that so many of us have reconsidered our big life plans. With the UK coming out of lockdown, now is the time to put a few of these plans back on your priority list so you can prepare financially for them. For example, house prices have gone up, so you may need additional funds for a deposit if you are planning to move, travel plans need to be streamlined, or you may want to build up a bigger nest egg before starting a business. family.

4. Try to create a fund for rainy days

When money is limited, saving can seem daunting. While some experts recommend having enough savings to cover three to six months of your living expenses, this may be unrealistic for some. It is good practice to save as much as possible for a “rainy day”, so that you are prepared for the unexpected. When it comes to saving, every little bit counts.

5. Don’t be afraid to get help

If you feel comfortable discussing your financial issues with family, friends, or a partner, do so. Sometimes someone else’s thoughts / observations / experiences can make all the difference when you are worried about something. Additionally, there are free and unbiased resources, such as Money Advice Service and Step Change, which provide free expert debt advice. While it can be uncomfortable talking about money, it’s always best to start the conversation as soon as possible if you’re having a hard time.

6. Anticipate your future

Finally, keep an eye on the road ahead. A regular monthly investment in a Self-Invested Personal Pension (SIPP) or ISA is a simple, tax-efficient way to help give yourself the financial freedom you want for the future – while many employers will offer to match. employees’ occupational pension contributions if they choose to increase them beyond the legal minimum. And this step is even more crucial for women given both the gender pension gap and many women’s preference for “safer” savings over arguably more effective long-term investment.

Sources:

1 Research conducted by Opinium research between January 7 and January 12, 2021 with 12,038 men and women in the United Kingdom, Germany, China, Taiwan, Hong Kong and Japan. UK-specific results from the global study are based on a sample of 2,004 (990 males and 1,014 females). The description of single respondents refers to those who do not live in a couple and does not include those who are divorced.

2 ONS – Coronavirus and trends in youth labor market outcomes in the UK: March 2021

3 Institute for Fiscal Studies, How Mothers and Fathers Reconcile Work and Family Under Lockdown ?, May 27, 2020. https://www.ifs.org.uk/publications/14860

Important information:The value of investments and the income from them can go down as well as up, so you may get back less than what you invested. Investors should note that the opinions expressed may no longer be relevant and may have already been implemented. Tax treatment depends on individual circumstances and all tax rules may change in the future. Withdrawals from a retirement product will not be possible before the age of 55. This information does not constitute a personal recommendation for any particular investment. If you are unsure of the suitability of an investment, you should speak with a Fidelity advisor or a licensed financial advisor of your choice.


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Exclusive: Pandemic prompts nearly 4 million Londoners to consider moving in search of better life http://www.naddosha.com/exclusive-pandemic-prompts-nearly-4-million-londoners-to-consider-moving-in-search-of-better-life/ Wed, 09 Jun 2021 19:43:00 +0000 http://www.naddosha.com/exclusive-pandemic-prompts-nearly-4-million-londoners-to-consider-moving-in-search-of-better-life/

The pandemic and subsequent closures in the UK have had a transformative impact on UK employees, with more than a third of people aged 18 to 34 moving to ensure a better quality of life.

The corresponding figure for people aged 55 and over is only 9%, while the UK average is one in five, according to a study by Close Brothers, shared with City AM tonight.

It should be noted that people in London are the most eager to make the switch, with 39% – or nearly 4 million people – moving or thinking of moving to achieve this better quality of life.

This is a significantly higher proportion than the next most likely regions, the East Midlands and the East of England (both 23 percent). The region in which employees are least likely to have made the switch is the Northeast (9 percent).

Research highlights the extent to which the past 12 months have changed employee financial plans across the UK.

The results also show that 39% of workers plan to switch to full-time telecommuting due to the pandemic, with 30% doing so part-time.

About one in five people have decided to reduce the time they spend working (18%), while 14% have already retrained or are considering retraining for a new career.

Changing behaviour

Outside of work, the report also reveals significant changes in behavior. Three-fifths of UK employees exercise more (61 percent), while 58 percent intend to go out more when possible, and the same number make a concerted effort to connect more with friends and his family.

More than half (55%) want to adopt a healthier diet and focus more on activities aimed at improving well-being and mental health.

The past 18 months have had an almost incalculable impact on people’s mental and physical health, but it has also had a tangible impact on the behavior of employees when it comes to their finances.

With many employees facing tough financial decisions, research identifies that around three-quarters (73 percent) of female workers in Britain are considering or have already started to monitor their day-to-day spending more closely due to the pandemic

This is the case for more than half (52%) of their male counterparts.

Covid-19 has also prompted employees to think more about planning for the unexpected. Almost two-thirds (61%) save in an emergency fund. In addition, one in five (20%) has been asked to write their will.


Key changes made to improve financial well-being
Overall Men Women
Monitor daily expenses more closely 63% 52% 73%
Save more in an emergency savings fund 61% 57% 65%
Write a will / update an existing will 20% 19% 21%
Save more in my personal pension 19% 24% 15%
Increase my contribution to my employer pension 16% 19% 13%

“For years we have been closely monitoring the financial well-being of UK employees and in recent years there are signs of a trend in the right direction,” said Jeanette Makings, Head of Financial Education at Close Brothers.

“But the impact of the pandemic and the experience of several lockdowns has been a catalyst for significant lifestyle changes and for employees taking action to improve their mental, physical and financial health,” Makings said. City AM tonight.

“Right now, employees are more focused than ever on the importance of better managing their finances. So now is the perfect time for employers to step up their financial well-being strategies and better support the financial health of their employees, ”she added.

“More employees need it and more employees are ready, willing and able to listen. For organizations doing more to improve their financial wellness strategies now, the rewards will not only be felt by their employees, but there will also be tangible benefits to business performance, so that’s a double victory, ”concluded Makings.

UK house prices rise after months of decline linked to pandemic




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The IEA calls for an “increase” in funding for the clean transition – reNews http://www.naddosha.com/the-iea-calls-for-an-increase-in-funding-for-the-clean-transition-renews/ Wed, 09 Jun 2021 07:39:21 +0000 http://www.naddosha.com/the-iea-calls-for-an-increase-in-funding-for-the-clean-transition-renews/

The global energy and climate future increasingly depends on the ability of emerging and developing economies to successfully transition to cleaner energy systems.

A new report from the International Energy Agency (IEA) calls for a sea change in global efforts to mobilize and channel the massive increase in investment that is needed to address this problem.

The special report – produced in collaboration with the World Bank and the World Economic Forum – presents a series of actions to enable these countries to overcome the main obstacles they face in attracting the financing necessary to build clean energy systems, modern and resilient that can fuel their growing economies for decades to come.

Annual investment in clean energy in emerging and developing economies to be more than seven-fold – from less than $ 150 billion (€ 123 billion) last year to over $ 1,000 billion by 2030 to put the world on track to achieve net zero emissions by 2050, according to Financing Clean Energy Transitions in Emerging and Developing Economies.

Unless much stronger action is taken, the energy-related carbon dioxide emissions of these economies – which are mainly found in Asia, Africa and Latin America – are expected to increase by 5 billion tonnes over the course of over the next two decades, according to the report.

Fatih Birol, Executive Director of the IEA (on the picture) said: “In many emerging and developing economies, emissions are rising as clean energy investments falter, creating a dangerous fault line in global efforts to meet sustainable climate and energy goals.

“Countries do not start this journey from the same place – many do not have access to the funds they need to move quickly to a healthier, more prosperous energy future – and the damaging effects of the Covid-19 crisis are lasting longer. long in many parts of the developing world.

“Money is not lacking in the world, but it is not reaching the countries, sectors and projects where it is needed most.

“Governments must give international public financial institutions a strong strategic mandate to finance clean energy transitions in the developing world.”

Recent trends in clean energy spending point to a widening gap between advanced economies and the developing world, although emission reductions pay off much more in the latter.

Emerging and developing economies currently account for two-thirds of the world’s population, but only one-fifth of global investment in clean energy and one-tenth of global financial wealth.

Annual investments in all parts of the energy sector in emerging and developing markets have fallen by around 20% since 2016, and they face debt and equity costs up to seven times higher. higher than in the United States or Europe.

Avoiding a ton of CO2 emissions in emerging and developing economies costs on average half as much as in advanced economies, according to the report.

Part of the reason is that developing economies can often switch directly to cleaner and more efficient technologies without having to phase out or renovate polluting energy projects already underway.

But emerging and developing market economies looking to scale up investment in clean energy face a series of challenges, which can compromise risk-adjusted returns for investors and the availability of bankable projects.

The challenges involve the availability of trade agreements that support predictable income for capital-intensive investments, the creditworthiness of counterparties, and the availability of enabling infrastructure, among other factors at the project level.

More general issues, including exhaustion of public finances, monetary instability, and weak local banking and capital markets, also pose challenges in attracting investment.

Dr Birol added: “A major catalyst is needed to make the 2020s the decade of transformative investments in clean energy.

“The international system lacks a clear, unified focus on financing emissions reductions and clean energy, especially in emerging and developing economies.

“Today’s strategies, capacities and funding levels are well below what they need to be.

“Our report is a global call to action – especially for those who have the wealth, resources and expertise to make a difference – and proposes priority actions that can be taken now to get things done quickly. “

These priority actions – for governments, financial institutions, investors and businesses – cover the period to 2030, building on a detailed analysis of successful projects and initiatives in the areas of clean energy, efficiency and electrification, as well as transitions for fuels and emission-intensive sectors.

These include nearly 50 real-life case studies in different sectors in countries ranging from Brazil to Indonesia and Senegal to Bangladesh.

The report calls for focusing on channeling and facilitating investments in sectors where clean technologies are market-ready, especially in the areas of renewable energy and energy efficiency, but also laying the groundwork for an increase in low-carbon fuels and industrial infrastructure needed to rapidly decarbonize growing and urbanizing economies.

It also calls for strengthening sustainable financing frameworks, removing barriers to foreign investment, relaxing licensing and land acquisition procedures, and rolling back policies that distort foreign investment. local energy markets.

The report points out that investments and activities in clean energy can bring substantial economic opportunities and jobs to industries that are expected to thrive over the coming decades as energy transitions accelerate around the world.

It calls for clean energy transitions to be people-centered and inclusive, including actions that build equitable and sustainable models for universal access to modern energy.

Spending on more efficient household appliances, electric vehicles and energy efficient buildings can offer new employment opportunities and can in particular support the role of women and women entrepreneurs in driving change and improving business. gender equality.


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How adolescent girls and young women bridge the financial literacy gap http://www.naddosha.com/how-adolescent-girls-and-young-women-bridge-the-financial-literacy-gap/ Wed, 09 Jun 2021 05:08:53 +0000 http://www.naddosha.com/how-adolescent-girls-and-young-women-bridge-the-financial-literacy-gap/

In her early twenties, * Amanda had a long-term job, lived in a rental property, and had good savings.

Then * Amanda met a man and fell in love. Over time, this man has become financially abusive. He had access to his bank accounts, changed passwords and stole money.

When * Amanda realized what was going on and found the courage to confront him, he became physically abusive. In a coup de grace, the man withdrew a large sum of money from his account and left the country.

This experience left * Amanda in a dark place. She tried to work as much as possible to pay off the debt, but couldn’t get out of it. Her mental health deteriorated and she found herself unable to work and suicidal.

* Amanda is not alone in her financial difficulties. By the age of 17, * Jasmine had lived with 14 different foster families. Right before her 18th birthday, she quit the system, surfed on a couch, and then ended up living on the streets.

She had no money and suffered from complex mental health issues and addictions. There was no one in her life to turn to for help. Eventually she overdosed, but luckily she survived to tell the story.

* Amanda and * Jasmine are examples of many young women in Australia struggling financially and facing trauma. I have heard stories like theirs countless times.

Previously I worked as a high school teacher and after that in women’s charities. I had girls and young women who constantly came to my office asking for financial help, whether it was getting a tax file number or opening a bank account. I quickly realized that there was a void in the market for young girls as they transitioned into adulthood.

Founder of the Warrior Woman Foundation, Jessica Brown.

Provided

Research from the Australian Household, Income and Labor Dynamics Survey found that women with the highest level of education in grade 12 or less have a financial literacy rate of 38.3% , while the rate of women graduating from higher education is 65.2%.

So I decided to create a foundation to help young girls aged 15 to 25 make the transition from home care to independent living, as well as young women who simply need a helping hand to become independent. These women need a network of safe, stable and positive female role models in their lives.

To look forward

* Amanda and * Jasmine continued to do extraordinarily well. They got the help they needed and were able to get back on their feet. But change is needed if we are to help the next generation of women before they reach breaking point.

As a former teacher, my experience has shown that financial literacy is only really taught in subjects like commerce, business studies, or economics. I believe that all students should learn it in school and that it should be integrated into the school curriculum from an early age.

We need to make financial independence a priority for women, as statistics show that single women aged 55 and over are becoming one of the fastest growing financially vulnerable groups in Australia.

By teaching financial literacy to all students, we can also help prevent financial abuse by teaching vulnerable young women the skills and confidence to take control of their finances and spot the warning signs. aggressors.

Many young women who find themselves in a situation of financial abuse are made to believe that they are not good with money, as in the case of * Amanda, and that they do not have confidence in it. management and therefore should not be managing it. By teaching financial literacy as early as possible in a young woman’s life, it can positively shape her relationship with money and, more importantly, her belief in her ability to manage it.

Tips to protect yourself from financial abuse

Over the years in my job, I have learned that there are key things women can do to protect themselves from financial abuse. These are:

  • Stay in touch with people you trust and don’t be afraid to speak out about your concerns.
  • Learn to recognize and avoid financial scams.
  • Regularly check bank and credit card statements for unauthorized transactions.
  • Open your own mail.
  • Store documents, account IDs and passwords in a safe and secure place.
  • If you lend someone money, write it down and make a repayment plan with them.
  • Never sign documents that you do not understand.
  • Whenever possible, seek independent and confidential legal or financial advice.
  • Get someone you trust to verify that the person handling your money is doing it in your best interests.

* Not their real name.

* Jessica Brown started the Warrior Woman Foundation to help young women gain financial independence. Their goal is for every Australian woman to become independent through financial well-being and to increase the financial literacy rates of young women in Australia so that they have the confidence to earn and manage their own money, plan for their future economic security. and protect against financial abuse.

If you, or someone you know, needs help, you can contact Lifeline on 13 11 14 or 1800RESPECT 1800 737 732


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5 LGBTQ + personal finance experts you’ll want to follow http://www.naddosha.com/5-lgbtq-personal-finance-experts-youll-want-to-follow/ Tue, 08 Jun 2021 13:36:08 +0000 http://www.naddosha.com/5-lgbtq-personal-finance-experts-youll-want-to-follow/

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  • Tune in to NextAdvisor on Thursday, June 24 for a live interview with Suze Orman during Pride Month. The personal finance icon will talk about her experiences as a gay woman entering the misogynistic financial industry of the 1980s – and answer your burning questions about saving, investing, crypto, and more.

The financial industry doesn’t exactly have a reputation for being diverse or inclusive. Historically the province of rich white men, it has never been known as a place where LGBTQ + people freely express who they are.

This was also the case in the area of ​​personal finance, where people who provide financial advice have typically been Caucasian, male, and straight for as long as the industry has existed.

But that is about to change.

Acceptance and awareness of the LGBTQ + community is at the heart of Pride Month each June, but this celebration cannot hide the fact that there is still work to be done in the area of ​​personal finance. More than 60% of people who identify as LGBTQ + report having encountered financial difficulties because of their sexual orientation or gender identity, according to a 2018 Experian study.

The growth of social media, however, has made it easier to find people who are both financial educators and members of the LGBTQ + community, and we spoke to five of them as part of our initiatives to mark Pride Month.

These experts strive to make personal finance more inclusive and more representative of what the world really looks like. With their growing online communities, they educate their audiences about saving, investing, growing wealth, and raising awareness of the systemic inequalities that the LGBTQ + community has yet to overcome.

Animate your social feeds and follow them.

Suze orman

Courtesy of Suze Orman

Suze Orman, host of the Women and Money podcast and contributor to NextAdvisor, is one of the most powerful and influential voices in finance. She has written 10 consecutive New York Times bestselling books on personal finance, won two Emmy Awards and eight Gracie Awards during her career.

She also happens to be gay, but she doesn’t tailor her financial advice to the gay public. Whether you are gay or not, she believes, the mechanics of personal finance are the same.

“I never wanted to be known as the lesbian money woman. I wanted to be known as the money woman who was also a lesbian, ”Orman told NextAdvisor. “Big difference.” Orman gained a foothold in finance after becoming one of the first female stock brokers in the Oakland office of wealth management firm Merrill Lynch, a radical change for Orman, who was previously a waitress at a local bakery.

She then set up her own consultancy firm, the Suze Orman Financial Group. Her work as a financial advisor gained many followers with The Suze Orman Show, which aired on CNBC from 2002 to 2015. Orman, 70, now lives on a private island in the Bahamas with his wife and two-decade partner Kathleen “KT ”Travis, but hasn’t quite slowed down yet.

In her next conversation with NextAdvisor on June 24, Orman will talk about her uncompromising fight to preserve her identity as a gay woman while achieving unprecedented success in an industry not known for diversity or inclusiveness. In a rare joint appearance, KT will join Orman for part of the interview.

Gay husbands on fire

G and J are the married couple – who prefers to remain anonymous – behind Gay Husbands on FIRE, an acronym that refers to “financial independence, retire early”.

Both are in their early 30s, live in New York City, and envision a life of financial independence by 2031. J is a public relations consultant from Colorado and G is a lawyer from Colombia. They met in Philadelphia in 2013 and got married in 2017. Since the wedding, they have combined all their finances and paid off $ 100,000 in student loans.

They strive to save at least 50% of their income each month and now have a combined net worth of over $ 600,000. They document their FIRE journey on Instagram to share updates, personal finance advice, and thoughts on their financial goals, hopes and fears.

Carmen perez

Courtesy of Carmen Perez

Carmen Perez is the founder of Make Real Cents, a personal finance platform dedicated to helping people achieve financial independence and avoid the money mistakes she made early on.

Prior to 2016, Carmen had terrible credit, no money saved, and was sued for defaulting on her student loan. This is the year when she decided to change things and start her journey to free herself from her debts. She has paid off about $ 57,000 in debt in almost three years. As she paid off her debt, Carmen and his wife Elise also managed to pay cash for their 120-person wedding in New York City in 2018.

After getting out of debt, paying for a wedding, and buying a house, Carmen began saving as much as she could, with a plan to quit her finance job and learn to code. she now works in technology. She is currently a member of the Business Insider’s Money Council.

Daniella Flores

Courtesy of Daniella Flores

Daniella Flores is a queer, non-binary financial expert and founder of iliketodabble.com, a financial resources and financial resources website. After paying off $ 40,000 in debt with their wives, they fell in love with the idea of ​​side activities – or “splashing around” as they call it in their online community – and the idea that they could take advantage of. of their creative energy to seek financial freedom.

According to Flores, society makes LGBTQ + people feel like they don’t have many options for building wealth. Their mission is to change that.

“When you grow up in a society designed for cisgender and heterosexual people and you don’t fit into that mold, you are left behind. In the LGBTQ + community, you don’t see a lot of people seeking financial freedom, or really thriving, ”said Flores.

Based in the Pacific Northwest, Daniella is married to their wife Ally. They have two dogs and five cats.

Lexa van damme

Courtesy of Lexa VanDamme

Lexa VanDamme launched The Avocado Toast Budget in June 2020 when she faced unemployment shortly after graduating with a master’s degree. It started as a blog, but moved to TikTok in September 2020 when she started sharing her journey of paying off $ 20,000 in credit card debt in a year, and how she mended her relationship with money. . She now shares all of her tips and resources for free on Instagram, YouTube and TikTok.

VanDamme says The Avocado Toast Budget is a non-judgmental online community for millennials to learn to be more confident with money in a way that makes sense to them and their lives. It has two important convictions that influence its content: “money is political” and “debt is morally neutral”.

“I carry these two beliefs throughout my content, talking about how systems of oppression affect personal finances, what it’s like to navigate money as a queer, neurodivergent person.” , says VanDamme, “and be transparent about my mass of student loan debt.”




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Stewardship in Asia, source and victim of climate change http://www.naddosha.com/stewardship-in-asia-source-and-victim-of-climate-change/ Mon, 07 Jun 2021 15:34:00 +0000 http://www.naddosha.com/stewardship-in-asia-source-and-victim-of-climate-change/

Asia is playing a more active role in the fight against climate change, with net zero emission commitments from China, Japan and South Korea. Is the region catching up?

Climate change has a huge impact on Asia, including in terms of physical risks such as the increase in natural disasters. Just think of the number of typhoons and droughts the region has experienced. So climate action is important. Failure to meet climate targets could mean the number of people suffering from flooding each year in South Asia, according to WWF, would drop from 13 million to 94 million.

Asia is also a region that has an impact on climate change: China alone contributed over 27% of total global emissions, far ahead of the United States with 11% (albeit on a per capita basis). , the United States is well ahead).

As Asia – the world’s largest regional economy – is growing at a faster rate than the EU and the US, CO2 emissions are expected to continue to rise if we cannot decouple emissions from growth economic. However, the effects of climate change differ from region to region (see Exhibit 1).

It’s fair to say that we cannot meet global climate goals without the leadership of Asia, including China, which is the world’s largest emitter of greenhouse gases (GHGs). These commitments are therefore important: they set the direction of travel for companies and regulators, that is to say towards net zero.

Accordingly, they indicate how business models should evolve to align with these national goals. We have seen it in China: After Beijing’s net zero commitment, companies in the energy sector to finance announced their intention to align with the country’s emissions targets.

The EU has been the world leader in regulatory developments such as SFDR. [1] What is happening in Asia?

Asia has caught up. Regulators play an active role. We are witnessing regulatory changes on the way companies should be managed, such as the definition of ESG criteria [2] disclosure rules and how investors should invest – think about codes and stewardship guidelines. Regulators are also increasingly interested in product labeling and what can be considered a green fund or ESG to combat the risk of “green laundering” or “ESG wash” and to clearly indicate which funds are durable.

In addition, investors such as BNP Paribas Asset Management participate in initiatives such as Singapore’s Green Finance Industry Taskforce and Hong Kong’s Technical Experts Group. Investors and regulators are working together to move forward in this area.

You mentioned stewardship. Can you tell us more about your activities related to the energy transition?

We are working with Climate Action 100+ to ensure that the world’s largest GHG emitting companies take action to tackle climate change. In Asia, we lead or co-lead engagements with three companies.

So, as an example, we are discussing with China Petroleum & Chemical Corporation (Sinopec) its intention to achieve net zero in line with China’s national target and find concrete ways to increase emissions first. of carbon dioxide, and then meet the net zero target, including through research projects related to green hydrogen.

We have also engaged with Asian utilities as part of our coal (divestment) policy. [3] Asian electric utilities have a critical role to play in meeting local and international climate targets, as they together account for 23% of global GHG emissions. We therefore believe that there is an opportunity to dialogue with these companies, to identify those which actively reduce their dependence on coal and synchronize the carbon intensity of electricity production with a trajectory “aligned with Paris”.

Gender diversity is a hot topic: Asian companies tend to have fewer women in senior management. How do you go about promoting greater diversity?

Expectations for gender diversity on the board have grown from at least one woman on the board to now 15% of members being women in Asia and most emerging markets. Similar to what we do in Europe and North America – where we expect 30% to be women – we engage with companies that we see as key holdings in our Asian portfolios ahead of the annual shareholder voting season. .

We select companies that have at least one woman on the board, but who do not currently meet our 15% threshold to share our expectations. These dialogues were a way to discuss their strategy to promote not only gender diversity on the board, but also greater diversity and inclusion across the firm. Following these commitments, a few companies have aligned their gender diversity efforts with our expectations or have committed to meeting our board’s gender diversity expectations within two years.

Biodiversity is now also at the forefront of sustainability issues. Is this an area that you are also looking at?

Biodiversity and broader sustainability issues have been less on the agendas of a number of businesses in the region, compared to climate change, for example. However, Asia actually has both a high impact and a heavy dependence on natural ecosystems, for example forest and water.

The forest is a well documented area, with risks of deforestation linked to palm oil and wood plantations. If we take water, business operations risk being disrupted by too much or too little water. Every year, droughts in parts of India interrupt the production of the beverage industry and other water-consuming industries. Recently in Taiwan, a drought led local governments to prioritize access to water for local people, affecting the water-intensive semiconductor industry.

On the other side of the spectrum, Asia is vulnerable to natural disasters due to excess water, as you may recall from the 2011 floods in Thailand which disrupted manufacturers’ supply chains. global automotive and electronics companies. Finally, with many key Asian cities located in coastal areas, typhoons and sea level rise can have significant business implications for businesses.

We are currently working with CDP, an NGO, to collaborate with portfolio companies that have a high impact – and depend on – water and forests to encourage them to integrate these issues into their strategy, to improve their practices and strengthen disclosure.

[1] Lily An introduction to the sustainable finance disclosure regulation. As part of the European Action Plan for Financing Sustainable Growth, the SFDR offers greater transparency on the degree of sustainability of financial products. The objective is to channel private investment towards sustainable investment.

[2] On environmental, social and governance issues and risks

[3] What should investors expect from a responsibly run business? How should companies behave when it comes to issues such as human and labor rights, environmental protection or anti-corruption safeguards? Lily Responsible business conduct – a major pillar of sustainable investing

Also listen to the podcast with Paul Milon on Asia as a good place to change climate change


All opinions expressed herein are those of the author as of the date of publication, are based on available information, and are subject to change without notice. Individual portfolio management teams may have different opinions and make different investment decisions for different clients. The opinions expressed in this podcast do not in any way constitute investment advice.

The value of investments and the income they generate can go down as well as up and investors may not get their original stake back. Past performance is no guarantee of future returns.

Investment in emerging markets, or in specialized or small sectors is likely to be subject to above-average volatility due to a high degree of concentration, greater uncertainty because less information is available. available, there is less liquidity or due to greater sensitivity to changes in market conditions (social, political and economic conditions).

Some emerging markets offer less security than the majority of developed international markets. For this reason, portfolio transaction, liquidation and custody services on behalf of funds invested in emerging markets may involve higher risk.



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Blind box toy maker Pop Mart apologizes for asking women if they will have children amid reluctance on social media, China News http://www.naddosha.com/blind-box-toy-maker-pop-mart-apologizes-for-asking-women-if-they-will-have-children-amid-reluctance-on-social-media-china-news/ Mon, 07 Jun 2021 03:30:00 +0000 http://www.naddosha.com/blind-box-toy-maker-pop-mart-apologizes-for-asking-women-if-they-will-have-children-amid-reluctance-on-social-media-china-news/

Chinese toy maker Pop Mart apologized on Friday June 4 for asking female candidates about their plans to have children, drawing widespread criticism on social media the same week Beijing began allowing families to have children. three children to help cope with the aging of its population.

The Hong Kong-listed, Beijing-based company asked women in job interviews if they plan to have children and, if so, when. This caused a public outcry on the Weibo microblogging platform.

“Shame on you! Making a lot of money from female consumers while exploiting women,” said one Weibo user in a comment that racked up 40,000 likes.

“When men also get maternity leave, there will be less gender discrimination in the workplace,” said another user.

The company, which made armored toys a mainstream sensation in China, said some of its branches did not follow company policy in asking this question.

The company’s management team realized it was having problems due to its rapid development over the past few years, he added.

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“As a company whose consumers are predominantly women, we still have a lot of respect for women,” the company said on its official Weibo account, adding that women also made up 68.8% of its total workforce and nearly 75% of new recruits in the last six months.

The controversy arose just days after Beijing announced a major change in its family planning policy, allowing couples to have three children instead of two in a bid to cope with a demographic crisis as birth rates rise. are declining and the number of retirees continues to rise in the world’s second-largest economy.

The one-child policy, which has been criticized at home and abroad for causing gender imbalances and other demographic problems, ended in 2015 after 35 years.

“It will improve the structure of China’s population,” the Communist Party Politburo said in a statement on the policy change on Monday.

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Chinese mothers gave birth to 12 million babies in 2020, down 18% from 14.65 million in 2019. This is the fourth consecutive decline in the annual birth rate, according to data from the National Office statistics.

The reaction to the three-child policy has been mixed, with some voicing concerns about finances and social pressure. Social media posts also suggest that some fear the new policy may worsen gender discrimination in the workplace.

“It will affect the employment of women,” said one Weibo user. “If you give birth to two or three children, companies will worry that the maternity leave is so long and that you can balance your [personal] life and work. “

This article first appeared in South China Morning Post.



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Letter: Baptist leaders mismanaged the abuse http://www.naddosha.com/letter-baptist-leaders-mismanaged-the-abuse/ Sun, 06 Jun 2021 08:09:05 +0000 http://www.naddosha.com/letter-baptist-leaders-mismanaged-the-abuse/

New allegations regarding the mismanagement of sexual abuse complaints at the highest levels of the Southern Baptist Convention were made public in a recent letter between two high-level leaders which was obtained by The Washington Post on Friday.

Although such allegations have been made by several women in the past, the letter includes new details from internal conversations, alleging that some institutional leaders intimidated a victim of sexual abuse, referred to as a “whore,” and described in detail how many leaders have resisted a crackdown on sexual abuse.

More than 14,000 Southern Baptists are expected to gather in Nashville for the convention’s annual meeting, which aims to inspire unity among Baptists. But the June 15-16 meeting will take place amid intense debate on issues such as sexual abuse, racism and the role of women, as well as strong Southern Baptist support for former President Donald Trump, subjects that have caused cracks in recent years. years and caused many high-profile departures from the largest Protestant denomination in the country.

In a dramatic turn of events last week, two letters written by Russell Moore, who recently stepped down as head of the convention’s political arm, the Commission for Ethics and Religious Freedom, have been made public. The new allegations are contained in a May 31 letter Moore sent to current convention president JD Greear, which appeared on The Baptist Blogger website Friday, which posted other internal documents and records of Baptist leaders. of the South in the past.

“You and I have both heard, in closed-door meetings, about survivors of sexual abuse in terms of ‘Potiphar’s wife’ and other spurious Bible analogies,” Moore wrote to Greear. “The conversations at these closed-door meetings were far worse than anything Southern Baptists knew – or the outside world could report. “

In ancient biblical history, Potiphar’s wife tries to seduce Joseph and falsely accuses him of assaulting her.

On his last day as a Southern Baptist professional, Moore, who was one of the convention’s foremost leaders, decided to reveal the specific names of the key leaders involved in what he described as intimidation tactics.

Moore’s letter was aimed directly at several members of the convention’s executive committee, the Nashville-based group that runs the business of the convention and manages its finances. He described the “spiritual and psychological abuse of survivors of sexual abuse by the Executive Committee itself”, as well as a “model of attempting to intimidate those who talk about such issues”.

Moore and Greear did not respond to requests for comment.

Three employees working at congressional institutions, who said they had to remain anonymous to keep their jobs, corroborated many of the factual details of the letter. Details were also confirmed by a former employee, an abuse survivor and a prominent abuse advocate.

Moore gained national attention in 2016 when he openly criticized Trump and his evangelical supporters, and Trump replied on Twitter that Moore was “a heartless villain!”

Moore describes huge disagreements behind the scenes over how to deal with sexual abuse within mainstream institutions. He wrote in his letter that for the past few years he had tried to smile and pretend everything was okay.

However, “What [people involved] what we want is for us to remain silent and live in psychological terror, to protect them by hiding what they are doing in the dark, while asking our constituents to come and stay in. the SBC [Southern Baptist Convention]Moore wrote.

In the letter, he refers to a “catastrophic step” by some leaders to “exonerate” churches from credible allegations of neglect and mistreatment of victims of sexual abuse. “You and I have criticized such measures, believing that they endangered not only the evangelical witness of the SBC, but also the lives of vulnerable children and others in Southern Baptist churches.”

Moore also spoke of a sexual abuse survivor whose words he said were altered by executive committee staff to make her abuse appear to be a consensual affair: Jennifer Lyell, former vice president of Lifeway Christian Resources of the convention and once the highest paid female executive, agreed to be identified.

Instead of reporting that she had been abused, Baptist Press, which is overseen by the executive committee, reported in March 2019 that Lyell admitted to being involved in a “morally inappropriate relationship” with her former teacher.

Lyell, who lost his job, his reputation and his health, confirmed Moore’s account of “harassment and bullying” by the executive committee.

In his letter, Moore wrote that he overheard someone calling Lyell a “whore” in a hallway at the convention. The executive committee paid him a financial settlement but refused to apologize, he said.

A spokesperson for the executive committee did not respond to requests for comment.

The convention’s last annual meeting, held in 2019, focused on sexual abuse, and survivors like Mary DeMuth were featured. In a blog post last week, however, DeMuth wrote that she felt used, “like I’m part of a reactionary PR network. [public relations] machine responding to the very real trauma of sexual abuse and cover-up among us. “

The Southern Baptist Convention has 14 million members. The next meeting should help shape the direction of the convention; members will vote on various issues and choose their next chair.



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