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Women have money problems. They earn less than men ումներ invest less.

The gender gap could be partially offset by insecurity, experts say.

“People’s way people can be confident is through knowledge,” said Betsy Kelder, executive director of the Invest in Girls program.

The numbers tell the story. The S&P Global 2018 report found that only 26% of American women invest in the stock market և they invest less aggressively than men. However, a 2017 Fidelity study found that women who invested outnumbered men by 40 percent.

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These tips can help you teach your kids about money

Meanwhile, the 2019 Bank of America Merrill Lynch Salary Benefit Report found that women retire with $ 70,000 less savings than men. According to a study by CNBC / Survey Monkey Women at Work, by 2020, almost 1 in 5 women will save nothing.

“On average, we live seven years longer. If we split up, we’re more likely to be in poverty,” said Enn Jennifer Openshow, executive director of Girls With Impact.

“It is very possible that we will think about it early and get into the habit of saving.”

In fact, parents can start to close the investment gap by talking to their children. The sooner the better.

The level of girls ‘trust decreases by 30% between the ages of 8-14, the authors of the “Girls’ Trust Code” found out in a survey with Ypulse. When girls reach their lowest level at the age of 14, boys’ confidence is 27% higher.

It does not have to be complicated

When talking to your daughter, context is important.

“Make it a relevant conversation,” Openshow said.

If they are older և love Apple products, for example, you can show them how much they would have earned if they had invested in the company 10 years ago.

If they are young, start with the concepts of money, such as budgeting – what it means to save. As they get bigger, investing can become a more organic, natural conversation.

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“If you are not comfortable with money, investing seems insurmountable,” says Kristen Kimmel, RBC Wealth Management’s field marketing consultant.

Kimmel noticed that when her eldest daughter was 13, she became less confident in math. Kimmel and her husband created a corresponding program for their two daughters. When children put money in their bank account, the parents adjusted it. “When the eldest daughter got her first job, she was not intimidated by the concept of 401 (k),” Kimmel said.

Nts can also distribute their money to their children in envelopes labeled “spend”, “save” or “give”.

Sometimes teaching can be as easy as getting kids involved in the activities you do, whether it’s buying groceries, buying school supplies or paying for a restaurant meal. They can also track how you pay bills or prepare your taxes.

Learn together

“One of the obstacles we see is that parents do not talk about it because they do not understand it,” says Invest in Girls’ Kelder. “So they are inconvenient.”

Money lovers can learn about money և investing with their children. The Economic Education Council offers family-friendly financial entertainment packages that include age-appropriate money lessons and worksheets.

When children are interested in the concept of investment և complex interest, they can try their hand at the stock market available through the SIFMA Foundation, which helps children learn about financial markets through partnerships with schools.

“Use what’s out there,” said Kimmel, a member of the SIFMA board. “There is a ton of information.”

Include them in decisions

If your children are growing up, you can involve them in bigger family financial decisions, such as figuring out your annual household budget if you have one.

If they are high school students և start thinking about college, talk about what higher education costs, Kelder advised. You can consider a reasonable budget, how much you can afford, and how much debt your child wants to borrow.

“Involve children in the conversations we have with adults,” he said. “We do not give enough credit to children.

“They learn a lot that way.”

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