In
a presentation that set the tone for the panel, Ms. Chávez explained how, through
the GSRI financial literacy study, the Girl Scouts sought to better understand
how girls think about themselves in relation to money. The key finding,
according to Ms. Chávez, is the significant role that adults play in instilling
girls with the confidence to fulfill their financial dreams.
“Today’s
girls feel financially empowered and independent, and the vast majority sees
little or no difference between men and women in terms of their financial
capabilities,” Ms. Chávez told an audience of financial industry experts and
thought leaders. “Girls believe in their potential; they expect to be engaged
in financial decision making, and see themselves as the financial head of their
future households. But only 12 percent feel confident in their ability to
actually make financial decisions. There
is a clear disconnect between their optimism about their financial future and
their confidence in their ability to make that future a reality.”
Over
80 percent of the girls surveyed by GSRI reported having learned about finances
primarily from their mothers, with their fathers, teachers, and guidance
counselors falling next in line.
“Girls
are savvy; they are watching the way adults handle money and listening to the
way they make financial decisions,” continued Ms. Chávez. “As with so many
things, girls take their cue about their financial capabilities and set their
personal expectations based on the behavior they see around them. Parents and teachers must make it normal for
a girl to be engaged in financial discussions. To teach our girls to be
financially competent, we must reinforce what seems to be a natural financial
confidence. That means including girls in daily activities like going to the
bank, filling out a check, or making decisions about where and when to spend
pocket money. It also means steering clear of negative stereotypes about women
and money that make girls feel disempowered and disengaged.”
Cultivating
the financial capabilities of girls is a key component of the Girl Scout
program. Through Girl Scouting, girls hone their financial literacy skills
through practice and engagement: they build and manage their own cookie
business every year and earn financial badges such as the Financing My Future badge
or the Money Manager badge.