Sen. Elizabeth Warren Urges Young Women to Care About This Important Topic
Sen. Elizabeth Warren is calling for young women to be passionate about managing their own personal finances.
Why? Because she says young women today are battling unequal pay in most industries, often choosing between caring for family members and work, and living in a time when the government is profiting off the backs of students with unsubsidized student loans.
"Young women are doing exactly what we told them to do. They worked hard, played by the rules, and now they're attending college at higher rates than men. But the cost of college is going through the roof," Warren said in an interview.
She argues that women are often the main or joint breadwinners in two-thirds of American families, but economics for working families are downplayed in the male-dominated world of law and big banks.
The stats she points to are hard for us to swallow.
Women still make only 78 cents for every dollar a man earns and Warren says, "According to the best data available, women are paid less in 305 out of 314 major occupations."
She also notes that mothers are 10 times more likely than fathers to take time off from work to tend to sick children, and almost 60 percent of workers are not even paid for this time off.
Warren's desire to help young women in their personal finances stems from much more than stats, as she explained the personal challenges she overcame while growing up in a poor family, and later how she managed being a single mother.
She supports the idea of having a "“f*ck off fund," because she says money does offer independence when things turn sour or life presents new challenges.
"We don't know what's around the next corner," Warren says. "It's easy to walk fast with your head held high when you know that there's a little money to back you up if something goes on."
See her exclusive MAKERS story to learn more about her personal journey.