Financial Literacy and the Path to Freedom

Financial Literacy and the Path to Freedom
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I’ve always loved the feeling of being free and not having to do anything that anyone tells me to do. There were plenty of situations, though, when I HAD to listen to my parents “or else…” but it didn’t happen without some sort of push back!

While some would have called me stubborn, as I became an adult that feeling became something others called “free-spiritedness.” I can identify with that—I would never want to be bound to something I haven’t chosen for myself.

It’s not a fear of commitment. In fact, I would call it “selective commitment” towards those things that speak to my very being, my passions, my spirit, and my heart. Anything else feels repressive. And to me, that is the opposite of freedom.

That is why I chose to commit to giving girls a fun financial education that grows their knowledge, builds their skills and develops their capabilities as they progress through life, with the hope that it will help them have the freedom to make whatever choices they want as they begin their adult lives as women.

I’m extremely aware of the ways in which women have been held back because of a lack of financial freedom, and the systemic barriers that still hinder us today. Since the days of not being able to own property or not being able to open a bank account without dad’s or a husband’s consent, women have historically been constrained when it comes to money. In many places in the world, women are still not allowed to work; that (and worse) still prevails.

Today, even with more opportunities available to us, women are still held back—but we also hold ourselves back because we don’t speak the right language around money. We avoid learning about it because we lack confidence to, we are not expected to, or we are so used to being taken care of... until one day, we realize, we are the only ones who can take care of ourselves. (Related “Beyond Equality: 5 Commitments We Can Make On International Women’s Day”).

We must start laying the cornerstone and building the foundation for our daughters when they are still young, to give them the best chance to pave their way towards freedom.

Freedom means different things to different people, of course—through inherQuests, my dream is to create a path for girls to be able to start their adult lives at least from what I refer to as “level zero” – or, with little to no debt, because when we keep stumbling over the same obstacles of debt, dependence on others, and poor financial choices, the barriers become higher, and the lack of options feels like a short leash around the neck, keeping us from living fully empowered free lives.

A few things I’ve heard women say over the years:

“I hate my job, but it pays my bills… ”

“I can’t go out to dinner as I spent so much last month and need to catch up on saving.”

“I have to go back to work just so we can afford daycare for our kids.”

“I am trying to buy a house—I don’t have enough for a down payment and I have too much college debt. I feel like I’m throwing away my money by renting.”

Note the “I.” Women feel such responsibility, don’t we? But why do we tend to not extend that responsibility towards equipping ourselves with financial knowledge so we can not only enjoy the good life, but also rise to a position to help others, especially our daughters, thrive?

Money is necessary, but it does not have to be an evil. It can be a force for good in how we use it, and it’s the means towards freedom.

Money is a language of the world, whether we like it or not, and I will forever argue that it must be a basic skill taught from childhood just like English, math and many others. And when I say “money,” there is so much that children learn about it from a very young age that can help them as they grow up, including developing behaviors and attitudes related to things like patience, risks, and what a “fair trade” might mean.

Money is a constant in our lives: From our parents spending on us and us earning an allowance or money for small jobs, to looking at schools and most likely, student loans. We graduate, get a job, and hope our salary will be good enough to cover our loans and rent. The cycle begins again as we start our own families, get our own mortgages, and so on. So, how is it we never learned about this stuff?

April is Financial Literacy month, and there are many activities from various organizations that are working on creating awareness, and sharing knowledge and tools to promote financial literacy for all. Follow them. Learn from them. Check out their resources. There will be many interesting ones out there, and I will be mentioning them on my Twitter as the month begins.

Having committed to creating a fun way for girls to learn basic money and financial knowledge through inherQuests, I want to do it in April, in May, and in every month of the year, and I want to focus specifically on products for girls because, well, we need it more.

Would you like to help? I want to learn more about you as parents and caregivers who want an early financial education for their daughter. If you have a daughter who is in Kindergarten through Grade 5, fill out this survey and share it with others who may also like to help!

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