On average, women score lower on financial literacy tests than men, and studies show that a high number of women still do not take a primary role in managing their personal finances.
While the financial literacy gender gap has begun to decrease, there is still a significant difference in the level of confidence men and women have toward managing their money. According to a report released in 2018 by Statistics Canada, 37 per cent of men do not feel comfortable making their own personal investment decisions, while for women that number is 52 per cent.
To address this issue, the John Molson Executive Centre is organizing a financial literacy workshop for women on April 4.
Nadine Parla, a part-time lecturer in the Department of Finance at Concordia's John Molson School of Business (JMSB), says the best way to become financially independent is to start small.
