Dear reader,
Janine Rogan is an author, CPA, and founder of the
Wealth Building Academy. Her mission is to educate and empower women to grow their wealth confidently and profitably through financial feminism (AKA financial equality for all).
She opened my eyes last week’s on the
Ask a Matchmaker podcast about how much
more women have to pay for everything.
In her book, “The Pink Tax,” she explores what actually impacts women’s abilities to build wealth. Through her research, she discovered several factors at play.
She puts it like this:
“When you take a look at the wealth gap between men and women, it starts with the wage gap. We know that women are paid less than men for the same job. Then, not only do women have less money, we’re hit with what’s called the “pink tax,” which is the pricing disparity between men’s and women’s products. Walk into a CVS or Walgreens, and you’ll notice the pink branded razors are more expensive than the men’s. Shampoo for women is more expensive, or if it’s the same price, it has less volume. This leads us to be hit twice. We make less, and we have to spend more, so we have less money to put away.”
And it’s not just pricing disparities. We’ve set up society so that women don’t get paid to stay home and take care of their children (a job that would be worth $180,000+ a year, by the way). There is currently no federally mandated maternity leave. White women hold 30% of the world’s wealth, while women of color hold only 2%.
What’s even more frustrating is that all of these layers of financial inequity are dismissed by “experts” who tell women not to “buy expensive shoes and lattes” or that we can’t afford a house because we “buy too much avocado toast.” Janine points out that if these were truly the issues facing women today, we would have figured it out already!
All of this frustration and misinformation led Janine to write her book. She felt it was important not just to empower people with practical money advice but also to start a conversation about what we can do as
citizens to help make the world more fair and economically equal.
For more of Janine, you can connect with her
here, visit her
website, or sign up for one of her wealth-building
courses. Don’t forget to watch the full episode on
YouTube,
Spotify, or
Apple!
Post of the WeekInstead of printing royalty on their money, we think they should put famous Canadians like Ryan Reynolds, Ryan Gosling, and Celine Dion on it.
(I’m gonna go ahead and add Keanu Reeves to the list, too.)
What do you think?
Let’s work together
Do you want an online makeover or takeover? Reply to this email so we can talk about it!
