International Women’s Day is an incredible day for every woman. It’s a day where we give homage to what women all over the world have done in pursuit of equal rights and it’s a time to come together as women to celebrate each other. It’s a day full of celebration for and by women, whether you’re celebrating in the U.S. or abroad, with family or with friends.
At Style Salute HQ, we’re all about celebrating and supporting women.
And in honor of International Women’s Day, we are kicking off a new series called Make a Power Move, where we will share all the ways women are leaning into their ambitions. These stories are meant to provide an inspirational forum for women everywhere to champion one another other and truly — truly, truly — become their best selves.
IWD is also a reminder of how much we have left to do to achieve equality. While we have made incredible progress in the ways of equality, we’ve still had a long ways to go on issues like the gender pay gap and paid family leave. Want to know more about the issues and what you can do to pursue progress? You’re in luck. Ahead, we’ve put together everything you need to know about IWD. So, go ahead and bookmark this page and share the information with your friends and family, and on March 8, get ready to celebrate the women in your life.
What exactly is International Women’s Day?
IWD is a celebration defined as a day “celebrating the social, economic, cultural and political achievements of women” and is currently celebrated in over 100 countries throughout the world as well as an official holiday in more than two dozen nations including Afghanistan, Cuba, Georgia, Laos, Russia, Uganda, and Vietnam. Because we are ever-changing, there are different goals every year. For 2018, we are pressing for progress to motivate and unite friends, colleagues, and communities to think, act, and be gender inclusive. Start the discussion with your community about getting IWD in the classroom, challenge women’s equality in sports, and celebrate the programs that promote advancement for women in STEM.
When did International Women’s Day get its start?
The concept of International Women’s Day (IWD) can be traced as far back as 1909, gradually gaining momentum the following years as the celebration became a political instrument for expanding women’s rights. It started with the right to vote then evolved into so much more – the right to hold public office; the right to be employed without sex discrimination. We owe a lot to our sisters for across America, Europe, and Asia for starting this revolution and forming our socio-political culture to the ripe grounds for discussion it is today.
How do we celebrate International Women’s Day?
From tokens of appreciation (notes and flowers from both genders to the beloved women in their lives) to organized rallies, the principles of this holiday remains the same: Be fearless and stand up to what’s right and equal to #MakeaPowerMove. We cannot think of better ways to encourage power moves at Style Salute than promoting equality in the home and workplace through knowledge and smart financial planning.From closing that gender pay gap to knowing when to invest, we are here to guide you toward financial freedom on this important day.
What can we do to break the Gender Gaps on International Women’s Day
Gender equality and addressing all the gaps (both money and physical boundaries) are in the spotlight like never before. With knowledge comes action and now is the time to really power forward to make a difference in your financial future. We cannot emphasize enough that gender equality is a 360 degree approach that encompasses assertiveness with money, workforce, colleagues, and community at large. Let’s start with the greatest gap we see – the pay gap.
Money is power and this power has been woefully unequal ever since the dawn of the workforce. We know what workplace equality looks like, and it’s a bright world of wealth and progress – According to a recent McKinsey Report, full gender equality could add up to an estimated $4.3 trillion to the U.S. annual GDP by 2025. That would bring our projected GDP up to $26.3 trillion.
Sally Krawcheck, CEO of Ellevest, has done significant research into the work it would take to reach full gender equality. Surprising news to none, there is a still a long way to go to address the pay gap, female underrepresentation — in full-time jobs, high-paying industries, management-level jobs, and the workforce overall — and the reality that women handle the bulk of the unpaid labor.
Yes, we may hold 47% of the workforce, but we also hold only 43% of full-time positions and 64% of part-time roles. In 2015, only 39% of management positions were held by women. Only a few more statistics into the urgency of this issue, I promise – women are only making 75-80% of the salaries men earn for the same jobs and this pay gap only continues to widen as women ask for fewer promotions and invest less than men. A lower percentage of us have started saving for retirement than men, we have saved less, and we park 68% of our money in cash, not investments that could pay off so much greater over time.
So what is your story? Have you been able to start a business of your own or begin a habit of investing to be able to seed that start-up? Have you elected to spend money at women-owned or women-celebrated establishments only to make your dollar count? Or have you decided to unleash your power to capture your share of the billions of dollars in potential wealth at your fingertips by investing? Our dedicated writers and readers have inspired us with their tips and strategies on making it happen, as we hope it motivates you as well.
We want to hear it all and follow you on your journey. If you need some guidance on how to start financial planning for your future, Ellevest offers a free plan to start you on your way toward smarter wealth management. Take a stand for your own finances —Ask for a promotion. Start investing. Get your own finances in order.
This International Women’s Day, all of us here at Style Salute wait for your #MakeaPowerMove story and empower you to take what’s your today and tomorrow.
Disclosures: We’re excited to be working with Ellevest to start this conversation about women and money. We receive compensation if you become an Ellevest client.
