Webinar to focus on women's financial wellness

June 25, 2018

UNIVERSITY PARK, Pa. — It might be tempting to view financial advice as universal for the genders, but experts say that’s not always the case.

A webinar slated for noon on Tuesday, June 26, from the Sokolov-Miller Family Financial and Life Skills Center at University Park will focus on the financial wellness of women. Though women tend to live longer than men, on average they earn less and borrow more, leaving them in a worse position for retirement, according to Brad Yeckley, assistant director of the center.

“Despite the remarkable strides women have made over time and becoming the country’s most powerful consumers while gaining social and professional status, they still experience too many demands on their time and money,” Yeckley said.

A 2017 report from the American College of Financial Services made headlines when it was found that only 18 percent of female respondents to a survey could pass an income-focused literacy quiz, while 35 percent of male respondents were able to do so — though the financial press noted that both pass rates were poor.

However, Shannon Schuyler, chief purpose officer for PricewaterhouseCoopers, said in a podcast with the Wharton School of Business at the University of Pennsylvania that it appeared as though the landscape of financial understanding was shifting for women.

“Women have grown up not having a full appreciation of financial issues,” Schuyler said. “As more light is [shed] on this issue, you’re seeing an epiphany in women who say, ‘Hold on a second, if I’m going to be doing this — and if I’m suddenly the breadwinner or equal in the household or the only one in the house — I need to make sure that not only am I being treated the right way and compensated appropriately for my job, but I have a full understanding of the financial implications of the actions that I take.’ That has been happening more recently, versus the [pattern over the] past 10, 20 or 30 years.”

The June webinar through the Sokolov-Miller Family Financial and Life Skills Center will discuss the overall financial status and life cycle of women, Yeckley said, as well as explore the proper approach to budgeting to eliminate debt and stimulate a saving and investing mindset.

Webinars from the center are open to the entire Penn State community, including students, faculty, staff and alumni across all campuses. Registration is not required.

All sessions are offered through Zoom and can be accessed by visiting the webinar series page.

Penn State’s Sokolov-Miller Family Financial and Life Skills Center offers services to the entire Penn State community and is part of Penn State Undergraduate Education, the academic administrative unit that provides leadership and coordination for University-wide programs and initiatives in support of undergraduate teaching and learning at Penn State. Learn more about Undergraduate Education at undergrad.psu.edu.

Last Updated July 03, 2018