208 Years Until Gender Equality: Let’s Go Faster.

March 24, 2021
Female and male symbols written on eggs

At Sequin, we were stunned by the findings of Equality Can’t Wait: that gender equality is 208 years away. If you haven’t seen the star-studded video starring Melinda Gates and some of our favorite comedians, check it out here. Re-watching it two years later, and amidst a pandemic that has disproportionately affected women, is a stark and somber reminder that we are unlikely to see the type of gender equality we are all working for in our lifetimes — unless something changes.

Here at Sequin Headquarters, we have been studying the many threats to women’s financial equality. To bring you up to speed, here are some statistics that blew our minds:

At every turn, women are far more disadvantaged than men financially and these numbers are even bleaker if you’re a black woman or a woman of color. For example, while women on average make $0.82 for every $1.00 that men make, according to U.S. census data analyzed by the American Association of University Women, Asian women make $0.87, white women make $0.79, black women make $0.63, Native American women make $0.60, and Latinx women make $0.55.

There’s no doubt that we’re far from the gender equity that we want to achieve if things continue the way that they have.

What actions can we each take to stop this course of action in its tracks and get to gender equality FASTER?

Educate yourself and others on the state of the problem:

  • Sign up for Sequin’s credit boosting program, at www.sequincard.com (women saw a 20 point credit score increase in just one week!).
  • Read articles like this one, and the ones linked on The Sequin Project. Share research related to the state of gender equity in this country.
  • Talk about this issue with your friends, family, colleagues, classmates, and anyone who will listen.

Exercise your purchasing power:

  • Avoid pink-tax items by buying unisex or mens products or buying products that mark down pink taxed items (like Billie!).
  • Buy female-owned products like the ones on these lists (pursepower.com & genderfair.com).
  • Join movement-building organizations like Ax the Pink Tax to stay up-to-date on the latest issues related to the pink tax.

Close the pay gap within your workplace:

  • Advocate for gender equity policies. In California, you can find the CA Pay Equity Law, Resources, and Pledge for employers and employees at women.ca.gov.
  • Promote salary transparency in your workplace. Learn more at 81cents.com.
  • Pay attention to gender diversity in who you choose to mentor, sponsor, hire, and promote.

Grow your wealth and avoid being a victim by being smart about your own money:

  • Don’t leave money on the table. Investing can net hundreds of thousands to millions of dollars in the future.
  • Adjust your investment goals to fit your unique situation. Most firms default to average but men’s salaries tend to be higher and peak later. Women have longer lifespans, so you may want to adjust your investing to meet your needs.
  • Consider who you are investing in and who you are investing with. Ellevest offers impact portfolios based on personal finances and gender-specific salary curves.

What else can we do to move the needle for women?

*Special credit to Molly Zeins for co-authoring this article.

Disclaimer: A friendly and earnest reminder that content in the Sequin Project is not intended to be financial advice, and that the writers at Sequin are not certified financial advisors. If you’re looking to make any decisions related to the content above, please contact a certified financial advisor first.*

Vrinda Signature

Co-Founder & CEO of Sequin

** $1440 total value is based on average American spend. Actual total value may vary.

Sequin Rewards Cards are issued by Evolve Bank & Trust, Member FDIC, pursuant to a license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association.

If the cumulative rewards paid to an individual in one calendar year exceed $599, then Form W-9 may be required to be completed prior to funds disbursement. You are responsible for any applicable federal, state, or local taxes associated with receiving the bonus offer; consult your tax advisor to determine applicable tax consequences.

Sequin is not a Bank. Sequin Rewards Cards are issued by Evolve Bank & Trust pursuant to a license from Visa. Rewards are not offered by Evolve Bank & Trust and are instead offered and managed by Sequin.

Copyright © 2022 Sequin Financial, Inc.