Emphasis on financial wellness for women during Women’s History Month

“During Women’s History Month, and every month, the Department plays a key role in supporting women throughout their financial journey,” said Acting Secretary Sarah Hammer. “We have resources to guide women in all phases of life in managing their money, working towards a financially stable future, and achieving their financial goals.”

Launched in 2020, Investing in Women provides essential education and research on components of banking, credit, saving and investing, while offering practical resources to help women navigate their finances and future. The objective is to evaluate investment habits, stereotypes, and obstacles for women in Pennsylvania and reduce the gender gap through education and awareness.

As part of the program, DoBS surveyed nearly 700 Pennsylvania women to measure attitudes and understanding about personal financial capability among adult women in the commonwealth. The responses revealed that many women felt they excelled at day-to-day financial matters, but only 36% were confident in their ability to manage and invest money. Additionally, nearly 50% lived paycheck-to- paycheck or were just getting by financially.

Building on the Department’s commitment to investing in women, Moms on the Money Trail is an investor education program tailored to help new and expectant mothers learn more about saving, investing and improving their overall financial well-being. The free, noncommercial five-lesson program provides this critical financial knowledge for new mothers to be successful in the next steps of their lives. Partners of the program include the Pennsylvania Insurance Department and Pennsylvania Treasury.

Interested community groups, businesses and organizations can call 1 (800) PA-BANKS or email informed@pa.gov for more information about Investing in Women and Moms on the Money Trail.