Savvy Ladies Free Financial Helpline Surpasses 5000 Women Submitting Financial Questions

- Savvy Ladies, a nationally recognized non-profit organization empowering women through free financial education, including a national Free Financial Helpline, provides free, trusted, quality, women-centered financial education resources and support. With the launch of the Free Financial Helpline App in March 2023, the Helpline's expanded reach, accessibility, and expertise, has enabled 5000 women to submit their financial questions to a robust, dedicated community of pro bono financial volunteers.

Building Financial Courage

Our impact is in giving financial courage to an increasing number of women, answering women's financial questions, and building financial confidence. 58% of the women who visited the Savvy Ladies Free Financial Helpline shared that they were anxious and unsure of what financial steps to take, while 30% reported having some idea what to do. The good news is that their financial confidence improved once they connected with a volunteer. And 70% of these women reported taking action on their financial plans, with 90% staying connected with us for ongoing support.

Savvy Ladies creates safe spaces for women to ask brave questions and have conversations about money, which leads to articulating their financial goals and taking action to achieve them.

Women are asking important questions. What we know…

• Budgeting questions are shifting to be proactive, asking "how do I create" and "I want to learn." Sixty percent of clients are 18-34, 83% are single, and 32% are Black, African American, Latina women seeking to learn how to budget for their future.
• Career and Money questions focus on understanding the options available to working women to elevate their earnings and take advantage of employee benefits. Of these, 48% are ages 18-34, 33% identify as Black, African American, and 12% identify as Latina.
• Debt Management questions are key to recognizing that you need help. 48% of debt management questions are submitted by women ages 25-44 who are concerned about handling and paying off credit card debt. Seventy percent of the women are anxious and have no idea of their next step but are seeking guidance.
• Divorce & Money questions are submitted by women asking about how to proceed or plan for a divorce, with 80% of divorce clients seeking how to prepare for their future financial needs.
• Entrepreneurship and Small Business questions focus on exploring how to set up and start a business. Black/African American and/or Latina Women submitted 44% of the questions, asking about the financial framework for self-employment and business start-ups.
• Family Finance questions center around single moms. 43% of clients are aged 45+ and very anxious and concerned about money. Sixty percent report an annual household income of less than $49.9k. Key concern is how to become financially stable.
• Investing questions are being submitted by young women, with 28% aged 18-34, 39% having household incomes less than $49k, asking about how to grow their money and save for their future. This is a group that is energized to take control of their own money.

Savvy Ladies is committed to empowering self-reliant, financially educated women.

Join us at our Women of Impact Breakfast on March 25th and our Volunteer Summit on April 28th and support empowering women with financial knowledge.

SOURCE Savvy Ladies

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