Here we are a month into 2018 and there’s already a ton of stuff to talk about. Not the least of which are the #metoo and #timesup movements that have emerged in full force on the national scene. Whenever I think about what topics I should be discussing in videos and other materials, I always have to decide how much I should delve into things that are happening in our government and in the media. My goal with newcashview.com has always been to talk mainly about empowerment of the individual through mastery of personal money management in a positive way. I believe this is the best, most effective way to protect ourselves from any kind of economic upheaval that results from whatever is going on in the government or the world. I think it’s also the best way to put ourselves in a position to have our voices heard in our communities.
So, what do the #metoo and #timesup movements have to do with personal finance? First of all, there is a direct correlation between financial stability and empowerment. I’ve been talking about this for a long time. For example, look at all the women in Hollywood who are working together to create the Time’s Up legal defense fund, (which you can learn more about here). These women are putting their money where their mouths are and as a result, they are being heard on a national scale. They have the financial resources to not only be heard, but to also help others be heard.
I do understand that not everyone has that kind of wealth. However, this concept works on a smaller scale, too. Look at it like this, let’s say you have a job that you aren’t happy with. You’ve been smart about your money so you have no debt, low monthly bills and at least six month’s worth of salary and living expenses saved in a money market account. With that solid foundation, you can either ask for a different position or put in your two week’s notice and look for something better suited to you. That, my friends, is empowerment, don’t you agree?
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There is more to this issue than just having your finances on track, though. The elephant in the room is income inequality or, the gender pay gap. Unless you live in a cave, you are probably aware of the fact that women have been, and still are, paid substantially less than men in every employment field, even though it’s not a popular topic of conversation. The thing that makes income inequality particularly dangerous is how it makes women even more vulnerable to exploitation. Just look at this statistic from The Simple Truth About The Gender Pay Gap published in the fall of 2017 by the American Association of University Women, 42% of mothers with children under the age of 18 are their family’s sole source of income.
This means that women with kids need their jobs. Desperately. If you’ve ever been in that position, you know what else this means. Not only is being underwater financially very, very stressful. Now add to that the fact that you are paid 80 cents on the dollar for the same work as your male co-workers. In a job where you are already having to perform at a much higher level just to try to get the same opportunities as they do, by the way. This is separate and apart from any culture of sexual harassment you may have to deal with, too. (You may be one of the lucky few women who do not have to deal with that. If so, congratulations! Your situation is kind of like the myth of bigfoot. Talked about but only glimpsed from a grainy distance.) I think we can be forgiven for being a little grumpy, right?
This hits home for me because my mom had to deal with it, with me watching from my front row seat. She was a single mom with four young kids. I was eight when my parents divorced. She always worked as a waitress or in factories for as long as I could remember. Of course, the factory work paid better and sometimes came with insurance. Not always, though. While she never told stories of being overtly harassed at work (though I’m sure she was more than once), she always, always got the short end of the stick at work. Mom always had to work the worst shifts, meaning she was never home when I was home and she was always really tired. If someone had to be laid off, she was the first to go.
The worst of it happened at the last factory job she ever had. She was working at a paper company when I was just about to graduate from high school. Her supervisor made her move huge rolls of paper and chemicals by physically pushing them, fully aware of the fact that she was capable of using other methods of moving these things around. Now, my mom was about 5’2″ and weighed in at 115 lbs. She wasn’t a big woman so, moving these things around, of course she got hurt. Then, after a long, torturous battle with the company’s worker’s compensation attorneys… BAM, she got the can. Bye, bye salary and benefits!
As a kid, I watched her suffer physically and emotionally from this experience. While she was eventually able to find another job, she always had a hard time making ends meet. Her experience taught me some very important lessons about lots of things, including how women are treated in the workplace in spite of how incredibly hard they work.
Even if we set aside any issue of sexual harassment and assault, the fact that women are paid less than men continues to create a culture of inequality. For example, when women are educated, studies show that their increased level of education does not eliminate the pay gap. In fact, at some higher levels of education, the gender pay gap is increased (Truth, 13). This encourages discrimination in all its forms, including workplace sexual harassment and assault. The moral of this story is that financial instability increases the chance of exploitation of women.
While it would be wonderful if the powers that be would enforce equal pay legislation, or make it easier for women to enforce those laws, we have to face facts. The best chance we have at being heard and achieving equality is by self-empowerment. When you have your personal finances under control, it changes how you make decisions and how you are heard (read: VOTE WITH YOUR WALLET). Financial freedom gives YOU freedom and the confidence to live peacefully and have your voice heard. Let’s work on getting your finances in order together, check out the resources here at newcashview.com to get started.
If you need help speaking out about workplace discrimination, check out your state’s Department of Labor website to see what resources are available to you. You can also check out the Time’s Up website and the American Association of University Women website for information and resources about how to speak out.
We can do better, we can be heard.
The Dollar Lama
P.S. Make sure you check out my online courses, books and resources, too! Investing in your money management education is an investment in yourself. That’s the best investment you’ll ever make, I guarantee it! Don’t forget my weekly Facebook live videos on Facebook.com/newcashview, Instagram @joyalfordbrand and on my YouTube channel NCVTV. You can catch me twice, on Mondays between 3:00 p.m. and 4:00 p.m. for my Monday Money Management Minute and Thursday evenings between 7:00 and 9:00 (Eastern Standard time), for my weekly NCVTV episode. They are packed full of useful and entertaining money management information! If you’ve missed any NCVTV episodes, you can see the latest on newcashview.com or you can check out my YouTube channel and get caught up! You can get there by clicking here. Remember, like and share the NCVTV videos on Facebook and all your social media platforms, so others can benefit from them, too!
#metoo #timesup
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