Women, behind in financial decisions

Women, behind in financial decisions

A new study by CAF (development bank of Latin America) says that, in order to reduce gender gaps in the region, a financial environment must be created in which women can communicate their needs.

(Read: Women in Latin America, with fewer legal rights than men).

For this, he says that the financial education, strengthen the capacities of womenand create financial and non-financial products with a gender perspective that strengthen women’s businesses.

The study, called Women’s Financial Capacities, highlights the gender gaps in Brazil, Colombia, Ecuador and Peru, and the need to create gender markers to improve women’s access to the financial sector and thus be able to design policies that reduce inequalities.

In this sense, financial education must cover risk management, money management, responsible and informed access to the credit system, women’s self-confidence, and digital and negotiation skills.

Note that to get the financial equality In the programs or measures that are put in place, it is essential to also involve men.

(What’s more: Why is it more difficult for women to get out of unemployment?).

According to surveys carried out in Brazil, Colombia, Ecuador and Peru, fewer women state that they personally make decisions about managing finances, which represents a gender gap by more than 15 percentage points. One of the reasons, the study points out, is the lower autonomy of women, since their participation in financial decisions increases when they contribute to the household income and have higher levels of financial education.


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