Feelings of shame around debt and a lack of engagement from traditional institutions have long hindered financial discussions among women. Gen Y ‘finfluencers’ are changing this status quo, using their social media savvy and relatability to improve their followers’ relationships with money.
Bola Sol is a business analyst and finance graduate. She founded the finance platform Refined Currency in 2015 and launched Rich Girl Chronicles, a personal finance accountability group for women, in 2018.
Clare Seal began documenting how she was paying off her debts on her Instagram account, @MyFrugalYear, in 2019. She now has more than 64,000 followers.
Susanna Wood is the PR and communications lead at Plum, an AI-powered chatbot that can be linked to users’ bank accounts to help them maximise their savings.
Sarah Drumm is a freelance journalist covering small businesses, start-ups, and new consumer brands. She is a contributor to Canvas8 and published a report on the popularity of direct-to-consumer brand communities for Thingtesting.
The financial inequalities faced by women in America aren’t limited to a pay gap. Traditional gender expectations and a lack of tailored services mean that they’re also less prepared for retirement than men. So, how can women be encouraged to build a nest egg as they move through life?
NatWest has promised to change the way it speaks to women, to undo the confidence gap that keeps women from managing their personal finances. By acknowledging banking’s historical prejudices, NatWest is using an industry-wide failing to define their personal brand mission.
The Money Diaries column on Refinery29 has drawn a cult-like following, putting young women’s finances under the microscope, letting readers peer beyond the constructed personas often presented online. What does the series reveal about Americans’ attitudes toward money and spending?
Women are often let down by the finance industry, from patronising campaigns to intimidating institutions. Online toolkit SmartPurse provides jargon-free financial information, a chance to network with other women on and offline, and a database for finding a financial adviser or coach.