Guest Post: How To Advocate for Women’s Financial Equity

Contributed by the Team at Possible

The systemic discrimination that women have endured is a timeless issue, and much of the progress reported in this field actively contributes to greater financial equity. It is important to know the statistics behind the gender wealth gap, for this information serves as the premise for greater advocacy on women’s behalf. 

While there are many ways one might go about addressing wealth inequality, it is important to draw attention to strategies that are based in practicality and effectiveness.

The focus of this post is to highlight the need to remain focused on this mission against financial discrimination by suggesting well-advised ways to tackle the issue. The strategy is twofold, and both aspects pertain to closing the gender disparity. The first is about the importance of mentorship programs, and the second is about greater funding opportunities to boost economic development.

In terms of mentorship programs, there are a few key things to keep in mind. Firstly, mentors should be individuals committed to the growth of women. The mentor would ideally bring a degree of relatability and active desire to harbor confidence.

Secondly, when it comes to funding opportunities, working with financial institutions that are devoted to aiding underprivileged communities can be entirely game-changing. When you are a single mom, working two jobs just to make ends meet, access to a loan for you to start your own business could be the difference between financial freedom and perpetuating generational economic instability.

Whether it be a bank, credit union, or loan agency, you want to make sure that the institution caters to your specific needs. Companies like Possible focus on assisting underrepresented minorities and women, giving them the vote of confidence to build credit and reclaim financial independence. 

These are just a few of the ways to continue to pushback against economic disparity. While increasing the prevalence of mentorships and access to financial support are inherently crucial, nothing excuses the need for greater policy change. So taking everything into consideration, it is important to understand that everyone has a role to play. 

Editorial Note: The 50/50 Equity Standard offers this article from the Team at Possible as informational only and does not endorse the products or services at Possible or at any other company.