1. women earn less than men
2. we get charged higher interest rates
3. we pay more late fees than men do
A new infographic from David Lerner Associates lays out just how much it costs to be a woman and what we can do about it.
From the original article where the infographic on the cost of being female was released earlier this month:
According to the U.S. Census Bureau, women still tend to lag behind men when it comes to compensation. Women today earn an average of 77 cents for every dollar earned by a man, reports the Census Bureau—resulting in an annual salary difference of more than $11,000.
In addition, women pay a half-point higher interest rate on credit cards than men do, according to the FINRA study. “Over a lifetime, this could add up to thousands of more dollars spent by women in interest charges than is spent by men,” says David Lerner Associates Senior Vice President Christina Nash.
The article goes on to describe how higher financial literacy in women can close the gap between the genders in areas like credit card management. You can read their entire series on women and financial literacy at their site.