From Proprietary to Prosperous: Tracing Women's Financial Evolution
About the Guest(s):
Amy Irvine
Amy Irvine is the CEO and founder of the Rooted Planning Group, a financial planning firm dedicated to helping individuals and families cultivate a thriving financial future. With extensive experience in the finance industry, Amy is a respected voice in personal finance, often highlighted for her unique insights and practical advice aimed at improving financial literacy. As a passionate advocate for financial equality, she frequently contributes to discussions on contemporary financial issues, especially those impacting women.
Episode Summary:
In this insightful episode of Money Roots, host Amy Irvine delves deep into the intertwined history of women and money, while also exploring foundational concepts of the money supply. Released during Women's History Month, this episode provides a timely reflection on how historical gender biases have shaped financial opportunities and challenges for women over centuries. From elucidating the definitions of M1, M2, and M3 money supplies to detailing landmark legislative changes that aimed to rectify gender-based financial inequalities, Amy delivers a wealth of information meant to empower and educate listeners.
Throughout the episode, Amy Irvine sheds light on the significant historical milestones that have shaped women's financial rights and opportunities. With a nod to landmark legislation such as the Married Women’s Property Act and the Equal Credit Opportunity Act, listeners are guided through two centuries of evolution in women's financial rights. Highlighting the persistent wage gap, which has seen stagnant improvement since 2003, Amy calls for continued education and advocacy, emphasizing the role of allies in supporting financial gender equality. By understanding the past, Amy believes, we pave a clearer path for a future where financial parity can be realized.
Key Takeaways:
Understanding Money Supply: Amy introduces listeners to the basic concepts of money supply, categorized into M1, M2, and M3, explaining their roles in economic growth and inflation.
Historical Gender-Based Financial Inequality: The episode tracks the timeline of female financial rights, revealing the extent of historical discrimination that women faced in terms of property ownership, credit access, and professional opportunities.
Legislative Milestones: Key legislative acts such as the Married Women’s Property Act and the Title IX are highlighted, portraying their impact on women's rights and financial autonomy.
The Persistent Gender Wage Gap: Despite progress, there remains a significant gap in earnings between women and men, citing statistics that reveal women earn approximately 85% of what men do.
Call to Action for Financial Equality: Encouragement is given to allies—parents, partners, and friends—to support women in achieving financial literacy and independence.
Notable Quotes:
"The reason that I'm bringing this up is because we've been having a lot of conversations with people about money supply in general."
"If you can't vote, you have no say over what does and doesn't happen to you."
"So technically, women at that point in time, if they got pregnant prior to that, you could lose your job, you could lose your way of supporting yourself."
"There's still a lot that we need to do to continue to bring parity to the way that women earn money, get paid, our relationship with money, all of that."
"For Women's History Month, if you have a daughter, if you have a niece, if you have a wife, support her in the way that, you know, promotes this continued direction towards parity of pay."
Resources:
Rooted Planning Group: Website
Tune in to this episode of Money Roots for an in-depth exploration of women’s financial history and achieve a better understanding of how these issues continue to shape today’s financial landscape. Remember to subscribe for more enriching content that helps nurture your financial roots.