Women pay more than men 42% of the time for everyday products and services. Studies find that women make 80 cents compared to a man’s dollar, with women of color earning even less than that. Reports also found that more than two thirds of people with student debt are women.
The Pink Tax does not only apply to care and luxury products, but it is also harmful to women’s overall financial goals, leading to higher banking fees, interest rates, and more.
Women are more likely than men to carry credit card debt and pay more in interest charges.
Women pay 18% more (that's $214/yr on average) in avoidable banking fees like overdrafts, minimums, penalties.
18% lower than men, on average.
More likely to take on caregiver responsibilities to children / elderly.
33% higher health care costs than men over lifetime.
Graduate with 15% more student debt than men.
Pay more for everyday products and services 42% of the time
Receive lower credit lines due to a lack of credit history, artificially lowering credit worthiness.