Secret Deodorant launched initiatives to help impact women’s financial knowledge positively. The project was revealed last week at the New York Stock Exchange during the Young Women’s Financial Wellness Forum.’ Here’s what you need to know about the new venture.
Awareness of Women’s Financial Health
The personal care brand Secret Deodorant is making moves to improve women’s financial awareness. According to a data table from the American Psychological Association, Gen Z hosts the highest levels of economic stress in the U.S., particularly with money. Furthermore, economic stresses affect Latino adults and Black adults the most. Most of which are women. According to the TIAA Institute study, personal finance knowledge tends to be lower among underrepresented minority women—African American and Hispanic women—compared to their white peers.
The initiatives taken by Secret Deodorant at the New York Stock Exchange during the ‘Young Women’s Financial Wellness Forum were in partnership with Seneca Women. They are a global leadership platform with a mission of leading girls and women for a more equitable and prosperous future world.
Secret Deodorant began the new venture by providing 1 million young women access to in-depth financial courses and female-led training resources.
“Secret’s Continued Efforts to Uplift Women”
“As part of Secret’s continued efforts to uplift women, we hope to spark a conversation about financial well-being and provide tools for financial literacy and education,” said Kate DiCarlo, Senior Communications Director, Personal Care Portfolio, Procter & Gamble in a statement. “Secret is proud to partner with a diverse group of women to lend their financial expertise to this initiative.” Source.
In addition, Secret has sought out renowned financial experts that can help support its finance empowerment mission. The brand is taking on the job of increasing financial education among women to demonstrate a better economic life is achievable for women. With help from the chosen multicultural financial experts, Secret can take their advice and cater specifically to the concerns of Gen Z women at Seneca Women’s ‘Young Women’s Financial Wellness Forum.’
The financial experts assisting the new Secret Deodorant cause include the following women:
- Berna Anat: Financial educator and author of “Money Out Loud – All the Financial Stuff No One Taught Us,” helping BIPOC and first-gen folks feel seen in the money world
- Carmen Perez: Creator of MUCH budgeting app, helping individuals manage their money and paychecks
- Giovanna Gonzalez: Founder of The First Gen Mentor, helping first-generation students and young professionals of color entering the workplace to confidently manage their money
- Jamila Souffrant: Founder of Journey to Launch, helping individuals launch into financial freedom
- Marsha Barnes: CEO and founder of The Finance Bar Members Club, helping individuals start their journey to financial wellness
“I understand how imperative it is to be well-versed in the world of finances. From understanding how to get your first credit card, student loans, how to apply for a mortgage and dealing with debt, it’s a lot to take in,” said Marsha Barnes, personal finance expert and founder of The Finance Bar Members Club. “Through financial therapy and education, I can support women throughout their experiences, and partnering with Secret gives me the opportunity to extend a helping hand to more women in need. I look forward to making a meaningful impact in young women’s lives as they embark on their personal journeys to achieve financial wellness.”
The project is taking on efforts on social media via a series of posts targeting various topics on financial literacy, such as budgeting, credit building, and more. Secret has also partnered up with Prosperity Now, a racial and economic justice organization, to help break the barriers for young women in need to achieve financial equity.
Tips To Start Bettering Your Finances
Furthermore, to expand on financial topics, BestCards has quite a collection of educational content to help you navigate financial waters. Here are four tips to start bettering your finances.
Develop Healthy Habits to Live Within Your Means
There are a few actions you can take to start building better habits for a brighter financial future. For starters, budgeting. Create a budget and stick to it to keep you in control of your finances and avoid overspending. It’s also a great way to see the money entering and exiting your wallet to assess where you need to tweak your spending. It is helpful to avoid impulse buying too. Get in the habit of including savings in your budget for best results.
Start Building an Emergency Savings
Secondly, setting aside a savings account for emergencies will help protect you from financial hardships. There is only so much planning you can do in life, so make space for unexpected expenses that may pop up. Such examples include a broken-down car, job loss, and more.
Set Financial Goals for Your Future
Get comfy with a pen and paper, and write down your financial goals. Establish your goals to act as a guide on the road to financial wealth. Aside from your emergency savings account, you should set goals to save for retirement or investments. Do your due diligence and self-educate on 401k, IRA, and other retirement plans.
Continue Education Yourself
Do your research and never stop. The world of finances is everchanging. The way a financial process might have been three years ago might not be the same today. Stay updated with financial news and seek information on topics that can better your money’s health. Find content that can teach you things about personal finances, managing debt, buying cars, or getting a mortgage. Find like-minded allies and immerse yourself in a community interested in finances, where you can all help each other learn more.
Related Article: Why Secured Credit Cards Help Build Credit
Featured image by Business Wire and Secret Deodorant
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