“When I was a child, men carried wallets. Women carried change purses. Consider the impact of watching your father pull a 5, 10 or 20 dollar bill out of his wallet versus watching your mother sifting through nickels, dimes and quarters to pay for purchases.”
~ Carol White Llewellyn
Some time ago, I came to believe that my relationship with money developed very early in life. As a child watching my parents, it became clear that “he who makes the money has the power.”
And that person with the power is usually a “he.”
If you look at the 500 wealthiest people in the world, only 13% are women. Of those, only 1.4% are self-made.*
Certainly, not everyone would want to be among the 500 wealthiest people in the world.
But most people — men and women — aspire to the assurance of a good salary, solid benefits, a robust retirement fund, security in their senior years, and the ability to leave a legacy to one’s family members.
While most studies estimate that a woman earns, on average, 82% of what a male in the same position would earn, an analysis by The Institute for Women’s Policy Research showed that over 15 years women made just half (49 percent) of what men earned.
This has long-term implications across the board… on social security, retirement funding, discretionary income, and often, other benefits. This can cause devastating consequences, especially considering women generally live six to eight years longer than men,
So who’s to blame for this disparity?
One could blame society, or corporations, the “good ole boys network,” or the women themselves for choices made. But maybe it’s some combination of these obstacles plus an invisible tie to our past. Isn’t it just possible that childhood memories — the nebulous relationship a girl has with money and numbers during her formative years — influence her lifelong relationship with money? And if that girl child does not have an empowering relationship with finances, can she overcome it and redesign the future? If so, how?
That is what The Pink Change Purse sets out to explore.
The Pink Change Purse Documentary is a work-in-progress.