Ellevest Launches New Workshop, Announces October 13 as Inaugural “Financial Wellness Day” to Change How Women See Their Relationship With Money and Investing
A new study by Ellevest shows that 67% of women worry about their financial health at least once a week, but rate financial health as the least important form of wellbeing
Posted Oct 13, 2021 at 7:00 AM MDT
NEW YORK, Oct 13, 2021 / PRNewswire / – Ellevest, a finance company built by women for women, has stated October 13th Financial Wellness Day that encourages women to take control of their financial future and feel good about money. According to Ellevest, 46% of people believe October is an important month to get back to focus on finances before the holidays and the end of the year. Just in time for Financial Wellness Day, Ellevest has announced a new workshop on the topic of financial wellness on selected dates – free of charge for all who register in advance the 20th of October – give women the tools to prioritize their financial self-care, reshape their attitudes towards money, define their financial goals and much more.
Ellevest Financial Wellness Survey 2021
“We define financial wellbeing as the state of money-related wellbeing that is achieved and sustained when you know what you have got, know where you are going, and feel good about it,” says Ellevest CEO and Co-Founder Sallie Krawcheck. “Money is the # 1 source of stress in women. And time and again, women are told a series of money lies that lead them to believe that they cannot achieve financial wellbeing. Saving – is the main driver in reducing that stress. Therefore, it is important to rephrase these messages and shed light on the importance of financial well-being to the lives of women as a whole, and let’s give it the attention it deserves. “
Ellevest also commissioned the Ellevest Financial Wellness Survey 2021, which surveyed more than 2,000 people to explore women’s relationships with money, debt, investment, and openness about their financial well-being. The data uncover some of the barriers people – especially women – face in relation to personal finances, investments, and financial wellbeing.
The most important findings include:
Financial stress makes women mentally and physically ill:
- 40% of women believe that their physical health has suffered from financial stress
- 46% of women have lost sleep due to financial stress, and this is especially true of millennial women (56%)
The taboo about financial talks burdens women:
- 56% of women do not regularly talk to others about finance
- More than one in three women (34%) have been taught that it is taboo to talk to others about finances (salary, money, assets, etc.). In fact, one in three women (33%) would rather share their personal browser search history than their bank and investment statements with friends.
Barriers to Financial Well-Being and Building Financial Trust:
- 45% of women have considered or set new financial goals since the pandemic began in 2019 March 2020
- 41% of women believe they would be better off financially if they had a stronger community (resources, inspiration, guidance)
- Women most commonly seek financial advice and inspiration by talking to their immediate family members, partners, and friends (30%) and reading about finance on social media and blogs (22%).
You can find more about research HERE. Women in the US can sign up for Ellevest’s Financial Wellness Workshop and use the code DOWELL to get started and receive $ 20 to your Ellevest investment account.
Visit www.ellevest.com to learn more and begin your financial journey with Ellevest.
Ellevest is a finance company founded by women, for women, providing solutions for all stages of women’s financial lives so they can invest more, save more and earn more. Ellevest’s offering includes digital investment tools, banking services, professional career and money coaching and learning resources, as well as private wealth management for wealthy clients who want a personalized financial strategy that can include impact investing. Named # 1 in retirement planning by Nerdwallet and # 1 in ESG investing in digital advisors, Ellevest has built an online community of more than 3 million women who advocate financial equality. To learn more, visit ellevest.com.
Ellevest Censuswide Study 2021 methodology
Ellevest partnered with Censuswide to conduct a survey of a sample of 2,026 respondents in the US between September 23, 2021 and September 29, 2021.
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