Women's Empowerment: 5 Simple Tips Every Woman Can Follow to Empower Herself
Women's Empowerment: 5 Simple Tips Every Woman Can Follow to Empower Herself
There is a lot of talk about women's empowerment in today's world. However, we are still witnessing a lot of issues around gender equality.
Women aren't equally represented in executive roles, they have less access to primary and higher education, they often face a persistent pay gap, and they are more exposed to health and safety risks.
According to Statista, in 2020, only 36% of senior roles in firms worldwide were occupied by women. At the same time, only 18% of firms had a female top manager. And that is only one of the numerous examples.
But there is overwhelming evidence that achieving equality and empowering women has huge impacts that are good for society.
Women invest an enormous part of their income in health and education, they contribute to the productivity of their communities, and support local economies.
Being little gears in a vast system, every woman can actually do a lot to make a big improvement in her life and the lives of daughters, sisters, and mothers around the world. Let's consider five things to start with. Let's go!
What is women’s empowerment?
In a broad sense, empowerment means to have an equal opportunity to participate in society.
Women's empowerment, or female empowerment, is the process of giving women equal chances to influence personal and public issues on the same basis as men.
Some people also define the notion through the idea of women's sense of self-worth. Others imply the ability to make independent financial choices and the right to impact social transformation.
Why is empowering women so important?
Despite playing significant roles in society — as consumers, workers, and entrepreneurs — a woman's access to essential services (such as a bank account) remains insufficient.
However, empowering women is vital to the health and social development of families, communities, and countries.
When women are given decent support and access to resources, they can promote sustainable development and become pillars of the world's business system.
For example, China — one of the mightiest economies in the world — due to favorable conditions, has become home to 78 female billionaires, nearly two-thirds of the global number.
The US that stays at the forefront of women's empowerment now has 12.3 million women-owned businesses (or 40% of the total number), generating $1.8 trillion a year.
Interestingly, some studies also find that women are far better equipped for success when it comes to investment. Women are often better savers, they have more diversified portfolios, and risk less than men.
According to the Fidelity Investments study, female investors outperformed their male counterparts by 40 basis points or 0.4%, which demonstrates that investing can work out quite well for them.
5 types of empowerment of women
Indeed, female empowerment doesn't have a clear definition. It means something different to everyone.
Many experts on gender equality split the concept and distinguish five major aspects of empowerment: social, educational, economic, political, and psychological.
The social aspect is one of the most crucial forms of women’s empowerment. It strengthens women's positions in civil society and gives them more value outside their homes.
Social aspect is also that power that helps resist all forms of discrimination. It no longer lets women of different (dis)abilities, races, nationalities, or beliefs be suppressed by obsolete prejudices and biases.
Educational empowerment comes from the fundamental human right to education and is the basic type of women's empowerment.
Unfortunately, statistics say that there are about 781 million illiterate adults in the world. And two-thirds are women.
By giving women access to education, we provide them with the expertise and skills required to overcome poverty, make them self-sufficient, and help them participate in social growth.
Giving women a voice in politics means letting them take part in decision-making.
There was a time when women couldn't open a bank account, marry a citizen of another country, divorce husbands due to domestic violence, and more.
Of course, women have already made significant strides in claiming their rights. In 2019, for example, the number of women in senior management roles worldwide grew to 29%.
But in many countries, women still have to fight for decent pay and adequate maternity leave.
This way, providing women with political powers means not only giving them a say but also impacting how socially significant issues are resolved.
For many women around the globe, economic empowerment is a game-changer.
According to YouGov, around 35% of partnered women are entirely or somewhat financially dependent on their partner.
The report also shows that, among women who are mothers to at least one child under 18, 44% are entirely or partially dependent on their partner.
Gaining the confidence (and knowledge) to manage money well can reduce the obstacles related to their own and their children's lives.
Psychological empowerment is closely connected to the social aspect. It gives women the power to build self-respect, recognize their value, and take full control of their choices.
In the face of gender discrimination, where many factors put women in danger, psychological empowerment is the first step to overcome patriarchal taboos and social obligations.
This aspect also tends to firm women’s mental health and make them tough, helping quicker and easier adjust to the changed circumstances.
What leads to female empowerment?
Boosting women's empowerment is key to a more sustainable future for all women and girls, their families, and the world.
But numerous unfair social norms and discrimination around the globe still keep women from succeeding in society.
In order to help women's empowerment gain momentum on the global stage, every nation should reinforce women's social, economic, political, and legal powers and provide them with the rights to:
- Make their own choices and decisions
- Live their lives with fulfillment, self-worth, and respect
- Have equal social status in society
- Have equal job opportunities and a safe working environment
- Have similar chances to impact social, religious, and public activities
- Have equal rights for political and economic decisions
- Get access to comprehensive education
- Freely manage their finances
What a woman can do to empower herself
As you remember, the giant leap for mankind starts with one small step of an individual. Here is our breakdown of tips you can follow today to improve women’s empowerment tomorrow.
1. Upgrade financial literacy
Education is the foundation of women's empowerment. And there is no better way to empower yourself than through financial training and enlightening.
To control your money well and never let money control you, you need a basic understanding of budgeting, borrowing, and investing principles.
At a minimum, you should know how interest rates impact the expense of borrowing, what financial instruments you can use to build wealth, and what a diversified investment portfolio looks like.
Luckily, many online resources can help you acquire new skills, reinforce your strengths, and widen your horizons. Also, remember that, on average, women are better than men at handling investments.
2. Surround yourself with role models
It's always easier to act when you know you're not alone. Turn around, and you'll see how many women around you managed to go through hardships and reach the stars.
There's nothing more empowering than choosing to surround yourself with people who can help you think positively and become more self-confident.
Many professionals of all time are referents of women’s empowerment: Marie Curie, Michelle Obama, Oprah Winfrey, and more. Having a role model to follow can lift your spirits on bad days. And this is incredible!
3. Empower other women
Everything in this world is interconnected. Empowered women can empower and encourage other women and get help back.
It's vital to stand together to promote women’s empowerment. Women are as strong as they think. That’s why it's important to help every lady around you become more fearless.
Start by talking to others and sharing your stories. It can be enough to empower and inspire others to act.
Mentor young girls and women in your community. Enlighten them, train them, and pass your knowledge. Just think how the female sector can grow if you, for example, inspire more women to invest.
4. Get your voice in politics
Due to women’s empowerment, women can already vote and be elected to government office. However, in 2021, only 26 women were serving as Heads of State.
Talented women who would make effective public leaders face numerous financial, social, and legal obstacles when making their voices heard in civil society.
This way, investing in your right to political participation is a crucial step toward global women’s empowerment and fair governance. So, what can you do?
Attend political training programs, gather like-minded people, promote your ideas, support women in leadership and decision-making roles, and invest in training organizations for young girls.
Over time, you'll see a surprising effect that brings multiple benefits, not only for individual women but also for their families, communities, and countries.
5. Get a positive mindset
Women’s empowerment and positive thinking always go hand in hand. The mind is a mighty thing, and there is nothing a woman cannot overcome if she thinks positively.
Switch on optimism regardless of what happens around you. This can help you get out of your comfort zone, take on new challenges, and fulfill your ambitions.
Make a positive mindset your daily habit, and try to keep your negative thoughts under control for the sake of your mental state.
Remember, positive thinking helps women solve problems and meet life's challenges with the confidence that everything will work out to their benefit and the benefit of their families.
Start empowering yourself today with Marmot!
If you want to contribute to women’s empowerment and need help, feel free to contact our professionals any time.
Marmot is a digital investment platform to help women achieve financial well-being in line with their ambitions, aspirations, and goals.
Every day we empower women financially, socially, and psychologically by teaching them how to plan, manage, protect, and grow their wealth. And we'll be so happy to become a part of your story!
The content in the blogs is solely for general information and to help potential clients get an idea of how we work. They are not recommendations that should lead to the purchase or sale of assets and are not investment advice. Marmot.Finance cannot judge whether and how the statements made fit your investment objectives and risk profile. If you make investment decisions based on this blog entry, you do so entirely at your own risk and responsibility. Marmot.Finance cannot be held responsible for any losses you may incur as a result of information contained in this blog entry.The products mentioned are not recommendations, but are intended to show how Marmot.Finance works and selects such products. Marmot.Finance is also completely independent and does not earn money in any form from product providers.
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