June 29, 2005

U.S. Labor Department's Women's Bureau & United Way of Mass. Bay Presented Free Financial Literacy Conference for Women and Girls

BOSTON – The Women’s Bureau of the U.S. Department of Labor and United Way of Massachusetts Bay joined forces to present a free financial literacy conference for women and girls in Boston on Saturday, Sept. 24, 2005. The two agencies sponsored Mothers, Daughters & Money, a conference which aimed to increase the knowledge and confidence that women of all ages bring to the tasks of basic money management, investing, saving, retirement planning, debt elimination, and other related topics.

“The Conference provided women with important tools and strategies to enhance their financial future,” said
Jacqueline Cooke, Regional Administrator of the U.S. Department of Labor Women's Bureau.

According to the U.S. Department of Labor, studies indicate that women tend to invest more conservatively than men, receiving lower rates of return from their investment over time, thus reducing the amount of savings they have at their retirement. A study of 4,200 teenagers nationwide by the Simmons College School of Management in 2003 showed girls less confident in their financial skills than boys by a margin of 15 percentage points.

“Increased confidence in financial literacy is an important component to building life skills of girls and empowering them to pursue leadership opportunities in the business world,” said Marilyn Anderson Chase, Senior Vice President for Community Impact at United Way of Massachusetts Bay.

A unique feature of Mothers, Daughters & Money is the opportunity for ongoing learning and support. Interested participants have been encouraged to challenge themselves to achieve one financial goal over the next twelve months. In cooperation with the Financial Planning Association of Massachusetts, United Way of Massachusetts Bay will monitor and encourage their progress during this time.

The conference was hosted by the Simmons Institute for Leadership & Change and the Simmons School of Management. Featuring interactive workshops and recognized financial professionals, the conference took place on Saturday, Sept. 24 from 8:30 a.m. to 3:30 p.m. in the Linda K. Paresky Conference Center at Simmons College, 300 The Fenway, Boston.

Gail Snowden, community leader and Vice President at The Boston Foundation provided the keynote address. Breakfast and lunch was provided for participants compliments of Citizens Bank, a cosponsor of the conference.

The mission of the Women's Bureau is to promote profitable employment opportunities for women, to empower them by enhancing their skills and improving their working conditions and to provide employers with more alternatives to meet their labor needs. For further information about Women's Bureau programs and initiatives, please visit www.dol.gov/wb.