For sophomore Zoie Hon’s 10th birthday, she didn’t wish for an iPad or roller skates. Instead, she asked her dad if he could buy her stocks. It was the first time she had shown interest in the stock market. The idea of earning money through this integrated global network of exchange, though new, was exciting to her. She also recalls how, almost every ten minutes, she would enthusiastically ask him how much her stock had raised and how much revenue she was gaining. Despite her early interest and excitement, in the present day, Hon doesn’t know much more about the stock market than the glimpse her dad gave her when she was young. “I’m not really entirely sure how all of that works. It all just seems kind of complicated,” she said. “[All I know is], if I invest now, then I’ll have maybe a better chance at financial stability in the future.”
Hon is not alone in this experience.
All students can suffer from a lack of financial literacy, but the issue disproportionately impacts women, with lifelong consequences. According to an April 2026 survey conducted by The Lowell, of 189 respondents, 48 out of 80 male recipients (60 percent) reported that they feel financially literate, compared to 55 out of 106 female respondents (52 percent). Finances are an important part of adult life, from completing taxes to setting up retirement accounts. Unfortunately, these crucial life skills are frequently overlooked in pre-college education, and often not taught from a young age, especially to young girls. This inequality in financial literacy has created a noticeable and harmful effect on women. Financial literacy can impact future success, and understanding how to save money can increase the potential of living a financially successful life.
The gender gap is not a foreign concept. In earlier generations, men assumed the role of providers, earning money for their families while women were confined to the domestic sphere of motherhood and family life. This system has created significant barriers for women who seek to achieve financial independence. As time has progressed, certain changes have shifted this socio-economic interaction, such as the introduction of the Equal Pay Act and Title XI in the 1960s, both of which prevented sex-based wage discrimination. Changes through these measures have led to impactful progress as women continue to break the glass ceiling which once barred them from work fields traditionally dominated by men. Yet, despite these efforts, there are still prevailing barriers women face, especially when it comes to a lack of financial literacy. A study conducted by the TIAA Institute in 2022, in which participants answered a series of index questions about the general financial literacy among the U.S. adult population, reported that, “Sixty percent of men correctly answered over one-half of the index questions, with 27% answering over 75% correctly. In contrast, 21% of women demonstrated a relatively low level of financial literacy, i.e., they correctly answered 25% or less of the index questions.”
Financial literacy can be predominantly connected to financial fragility, which translates to a susceptibility to financial problems. According to a research study published by the National Library of Medicine in 2012, one main reason for this gap in financial literacy is that “Women tend to live longer than men, have shorter work tenures, lower earnings and levels of pension or survivors’ benefits.” These factors make women more prone to developing finance problems in their future. Women face unique financial challenges which stem from lower average incomes, interruptions in employment history —usually connected to pregnancy and childbirth— and longer life expectancy than men. In a system set up to cater to the financial needs of men, these extenuating circumstances that women face are not accounted for and lead to a financial gap between the genders. The study also found that less than 20 percent of middle-aged college-educated women were able to answer a basic compound interest question compared to about 35 percent of college-educated males of the same age, and similar gender differences were found in younger ages as well, showing that the financial literacy gap persists throughout life.
Junior Mia Pinski has noticed instances of the gender gap in the field of finance firsthand. “What really stood out to me was who was actually in [business environments],” she said. “A lot of the time it didn’t feel very balanced between women and men, and that made me want to get a lot more involved and not just to learn, but to help create a more safe space for girls to feel like they actually belong there.” Pinski is involved in multiple economic organizations, including the Junior Economics Society and the nonprofit she founded: HerEquity. Through these organizations, she has gotten opportunities to speak to CEOs and experts in the field of finances, and has noticed that the people in positions of power are often men. This imbalance is part of the reason Pinski co-founded HerEquity, which focuses on empowering women to pursue careers in finance, as well as leadership opportunities. For Pinski, being part of these programs has opened her up to the world of finance. She expressed never finding a particular interest in finance until her freshman year of high school when she was exploring different clubs here at Lowell and happened upon the Junior Economics Club. Since then, her ambition for business and finance has grown.
As the Chief of Marketing and Vice President of the Junior Economic Club (JEC), Pinski has been able to spread the outreach of the JEC to a larger audience and aims to create an interactive and inclusive space for all. While she hopes to pave a path for female entrepreneurs hoping to pursue business, she feels that the lack of female representation in finance can also be discouraging. “As a girl in high school, [it] makes you question whether it’s worth trying to get that high up in a position,” she said. Pinski is not alone in these thoughts. Similar concerns and doubts continue to reflect in national trends throughout the career development of women. A research study conducted by the Open Psychology Journal in 2024 states that, “Despite progress in gender equality, women still encounter significant obstacles when attempting to advance their careers, switch industries, or take on leadership roles.” Another research study conducted by the Global Financial Literacy Excellence Center in 2022 stated that, “Women’s roles, particularly in financial professions, …pointed to the importance of confidence, especially in the fields of finance and investing.” Seeing women in leadership roles like CEO, CFO and business lead will help young girls feel more confident when it comes to the often paralyzing topics of finance and investment. This will allow younger generations of girls like Pinski who strive for strong accomplishments in the business realm to combat the disproportionate barriers that have been placed on them.
For many students, financial literacy is not unfamiliar but often only introduced outside of the classroom, either by family members or personal research. Junior Kelilah Spirn expressed disappointment that schools do not directly address finances earlier on in education systems. Her parents have integrated the importance of finance throughout her life. Her dad taught her saving habits from a young age, which have led her to limit all her spending to $20 a month. Additionally, her mom has helped her with future savings by setting up a Fidelity Youth Account. Fidelity Youth is a teen-owned brokerage account independently owned by the minor who is responsible for controlling all their own investments and spending.”[Proper financial literacy] definitely can help me in my future. I think it’s probably my whole future,” Spirn said. Hon echoed similar thoughts, emphasizing the importance of learning these financial literacy skills from a young age. “In high school, I feel like it’s a perfect time to start because we have the capability to understand these kinds of things and we understand that our future is right in our hands.”
While the broad idea of financial literacy can be learned through personal experience, or sprinkled in through math courses at school, specific skills often remain untaught. As standardized for high schools across the state, all seniors at Lowell must complete at least a semester-long generalized economics course, with an optional higher level offering of AP Microeconomics and Macroeconomics instead. Contrary to what some may believe, economics differs from the personal teaching of financial literacy, which is defined by essential money making skills such as budgeting, debt saving, and investing. Kristin Lubenow, an AP Economics teacher at Lowell, says that while the two are interconnected, economics helps students make inferred choices to set up stronger financial decision making skills, and personal financial literacy teaches real-life money management education that schools like Lowell are currently lacking. Lubenow adds information throughout her AP Economics course about 401K plans and college loan debt, but a standard economics course is not expected to cover the deeper fallacies of financial crises, or setting up proper retirement saving plans.
Lubenow shares the importance of having a strong sense of financial literacy. “The idea behind having financial literacy and being financially responsible is that the systems currently in place are not sustainable.” In a country where formerly dependable systems such as Social Security are now becoming unsustainable due to factors such as life expectancy, it is important that younger generations are able to combat financial crises and ensure they set their futures up for success. While the struggle to develop financial literacy creates the need for financial education, Lubenow shares how societal expectations can put specific pressure on girls to feel more insecure about money habits. There are certain societal norms for women pertaining to appearance, which partnered with lower income leads to women “having to be more resourceful to meet those two conflicting expectations.” Lubenow says. This idea framed by Lubenow counteracts the belief that lower financial literacy for women stems from a general lower education level and points towards the notion that women have been pushed into offices, classrooms, and spaces beyond where they must prioritize meeting social expectations over developing long-term financial confidence and independence.
On March 18, 2026, California Governor Gavin Newsom announced the implementation of a financial literacy course structured into the high school course requirements, beginning with the class of 2031. The course will be a one semester financial course aimed to teach personal finance to high schoolers and strengthen future financial skills. The guide includes a number of important financial skills, some of which include budgeting, investing and student loan help. On the same day, Governor Newsom also issued an executive order expanding opportunities for women to build wealth and, according to Newsom’s California government website, “support women and girls at every stage of wealth-building, from financial literacy and early savings to business ownership and long-term investment.” These implementations are a step in the right direction for supporting and improving young people and women’s financial literacy. The need for financial education has also been brought forth by many behavioral economists. Research by Annamaria Lusardi, Olivia S. Mitchell, and Vilsa Curto entitled Financial Literacy among the Young: Evidence and Implications for Consumer Policy from 2009 found that fewer than one-third of young adults nationally possess basic financial knowledge, highlighting the urgent need for stronger financial literacy education among youth. While this study was conducted over 15 years ago, the issue was directly addressed by the state of California in 2024 with Assembly Bill 2927, which emphasizes equal access to financial education and aid. 2927 is an important addition, as not all students receive the same exposure to financial knowledge. With this bill, the state intends to standardize this education so everyone is able to receive the same financial base.
Additional programs such as CalKIDS —a state-funded initiative that provides children born in California after July 1st, 2022 with a free college savings account containing up to $1500 —aim to gradually diminish the gender gap in financial literacy. Additionally, Newsom ordered Executive Order N-3-26, stating that despite the U.S having one of the most prosperous economies in the world, “women continue to face systemic barriers to building wealth, accessing capital, and participating fully in the financial and investment ecosystem.” Jennifer Siebel Newsom, First Partner of California, has advocated for financial support for women continuously and has been an active part of the campaign for Assembly Bill 2927 and the official signing in March. Newsom launched the Women’s Wealth Advisory Council in 2025, convening venture capitalists, philanthropists and business officials across the state to combat financial inequality. The additions of Executive Order N-3-26, along with standing organizations such as the Women’s Wealth Advisory Council, continue to push for female financial literacy in California and create a promising and hopeful future for the growing number of young girls who aim to pursue a strong career with a strong financial backbone.
While the first steps to build women’s financial literacy have been put in place, battling systemic issues can be a long haul. The implementation of these acts are a significant step for the future of financial literacy for women and girls. For real change to be seen, however, women must be encouraged to pursue financial education. Closing the financial literacy gap will create great opportunities for women and continue to support the movement towards women’s equality. Despite hardships, the efforts to bridge the financial literacy gap being made by educators, students, and advocates demonstrate that change is possible. By increasing exposure to financial topics and fostering a supportive learning environment by actively encouraging girls to explore financial topics, schools like Lowell and beyond can help challenge these longstanding disparities. For Pinski, motivation is crucial for inspiring girls and women to pursue finances. “A lot of young women are very interested and capable, but they definitely hesitate at first. More exposure and feeling more supported in general can just really build up your confidence. It’s not about the ability to know these things. It’s just that first push to fly up and see the world.”
