Study finds women lead household financial decisions
Women are becoming increasingly influential financial decision-makers in their households, according to a recent report from the Certified Financial Planner (CFP) Board, Building Wealth: Insights on Women’s Aspirations & Growing Financial Power. The report reveals that 69% of women consumers now serve as the primary decision-makers for financial investments in their homes. This trend is particularly prominent among married women, with 60% reporting they are the main financial decision-makers in their households. Women are also asserting control over wealth, with many now being the primary or nearly equal income earners compared to their spouses or partners.
Women’s growing financial influence is highlighted by their strong preference for professional financial advice. More than half (56%) of women believe financial planners are best equipped to help them achieve their financial goals, outpacing other resources such as online tools. However, the report also reveals a gender disparity within the financial planning profession, with only 24% of CFP professionals being women. Liz Miller, CFP and Chair of the Board of Directors at CFP Board, emphasized the need for more female representation in the field to meet the growing demand for tailored financial advice and help women secure their financial futures.
Women’s top financial priorities reflect their growing role in managing household finances. The report found that 83% of women prioritize living comfortably through retirement, and 68% focus on building a sufficient emergency fund. Another key concern is caregiving, as women tend to prioritize planning for the financial needs of loved ones, with 37% of women expressing concerns about their children and 25% focused on elderly relatives. Financial planners who demonstrate empathy, provide personalized solutions, and hold certifications like CFP are seen as essential to helping women navigate their financial challenges and achieve their goals.
Women’s college basketball is finally getting paid
Women’s basketball teams will be compensated this year for their participation in the NCAA’s prestigious March Madness tournament, following a historic vote at the NCAA convention in Nashville on January 15. The proposal to establish a pay structure for women's teams was approved in two separate votes. The first asked if payments should begin with the first NCAA Tournament, receiving overwhelming support with 291 "yes" votes and just one "no." The second vote, concerning the creation of a women's fund, passed unanimously with all 292 members in favor.
This vote marks a significant milestone in the drive for gender equality in collegiate athletics. Women’s teams will now receive "performance units" similar to the men’s basketball tournament, where teams earn revenue based on their performance in the postseason. The women’s performance fund will start at $15 million in 2025, representing 26% of the women’s basketball media revenue. By 2028, this amount will increase to $25 million, or 41% of the revenue, offering greater financial incentives as the sport continues to grow.
The move comes at a time of rising popularity for women’s college basketball, fueled by standout players like Caitlin Clark, Angel Reese, and Cameron Brink. Last year’s championship game, which featured Clark, garnered a record-breaking 18.7 million viewers, surpassing the men’s championship game. The 2025 NCAA Women’s Basketball Tournament will kick off on March 19, with the 'First Four' games, promising to build on the increasing fan engagement and excitement surrounding the sport.
DEI programs in schools given a two week deadline
The Trump administration has given U.S. schools and universities a two-week deadline to eliminate diversity initiatives or risk losing federal funding. A memo issued by the Education Department on Friday instructed educational institutions to stop using "racial preferences" in admissions, financial aid, hiring, or other areas. The memo cites the 2023 Supreme Court ruling barring race-based college admissions and aims to end what it describes as “discriminatory practices” against white and Asian students. The announcement has sent educators across the country scrambling to review their policies and determine whether they need to make immediate changes.
The guidance, which builds on President Trump’s executive order banning diversity, equity, and inclusion (DEI) programs, threatens to significantly alter campus operations. Colleges may need to reevaluate everything from application essays to campus recruitment strategies to ensure they comply with the new rules. Critics argue that the vague language of the memo could intimidate schools into cutting DEI initiatives even if they are legally justified, creating uncertainty about the future of diversity work on campuses. Legal experts and educational organizations are advising institutions to consult with legal counsel before making any decisions, as the full implications of the guidance remain unclear.
The new rules also target financial aid and scholarship programs, suggesting that any benefits tied to race may no longer be allowed. While some schools, such as Oregon State University, have claimed their programs are in compliance with the law, many others remain unsure about the impact of these changes. The National Association of Student Financial Aid Administrators has expressed concern over the uncertainty surrounding financial aid distribution, emphasizing the need for clarity to ensure students are not left in the dark about their funding. As the deadline approaches, colleges are left to navigate the complex intersection of legal compliance and their commitment to promoting diversity.
In Michigan, the Department of Education is pushing back. The State Superintendent issued a statement, saying eliminating the school’s DEI programs actually violate Title VI of the Civil Rights Act of 1964.
Comments