 
Financial Stability Project
In today's economic climate, it is more important than ever for American women to be empowered with the confidence and competence to make smart financial decisions for themselves and their families. Women control the majority of consumer spending, yet women are 40 percent more likely to be poor than men, and 67 percent of women feel they have little knowledge of financial products and services. The Women’s Legislative Network is committed to promoting the participation, empowerment and leadership of women legislators in the area of women’s financial stability.
The Network's Financial Stability Project seeks to increase state legislators' understanding of the economic status of American women and to provide in-depth information and tools for legislators working to support women's financial stability.
Check back often for project updates and announcements. Browse NCSL resources in the menu at right. And don't hesitate to contact us with feedback and questions!
 Join us at the Financial Stability Postconference at the NCSL Fall Forum, December 13-14, 2008.
Fast Facts: Women and Asset Development
(Women's Legislative Network News, Vol. 18, No. 2, Fall 2006)
One of the most important pathways to success is asset ownership. An “asset” is defined as a single item of ownership that has exchange value, such as cash savings; stocks; bonds; home, business and real estate equity; and retirement savings. Some statistics about women and asset ownership:
• The average income gap (women earn 76 cents for every $1 earned by men) contributes to a lifetime loss of $300,000.
• 45 percent of women are “asset poor;” they do not have enough financial resources to cover basic needs for more than three months if their income is disrupted.
• Today, 25 percent of female-headed households have zero or negative net worth.
• Widowed women fare the best of all female-headed households, but they have only 59 cents for every $1 of wealth owned by widowed men.
• Never-married women own less than 25 percent of the wealth of never-married men.
• Divorced African American women hold only 10 percent of the median wealth of their divorced male counterparts.
• Women are less likely to have income from pensions than men (30 percent vs. 47 percent), and their pension benefits are less than half of men’s, on average.
• Women and minorities are more likely to be working in low-wage jobs that do not offer affordable health insurance or retirement benefits.
Source: Heather McCulloch, Principal, Asset Building Strategies, 2005.
The Network in New Orleans:
NCSL Legislative Summit 2008
What Is the Financial Status of American Women? Perception vs. Reality
This session was the kick-off event for the Financial Stability Project.
Faculty: Marsha A. Goetting, Professor and Extension Family Economics Specialist, Agricultural Economics and Economics Department, Montana State University.
Dr. Goetting led participants in an interactive session to test their knowledge of women's economic situation. She shared data about per capita income, multiple job holders, the poverty threshold, health care coverage, credit card debt and retirement savings. Using Montana as an example, Dr. Goetting suggested legislators contact their State Research, Education & Extension Services, as many states have Family & Consumer Science programs with financial education resources.
Listen to a recording of this session.
Dr. Goetting's PowerPoint presentation [ ]
Dr. Goetting's data and sources for further information []
Convening: The Legislator's Powerful Role
This interactive, full-afternoon workshop explained the legislator’s critical role as a convenor to help solve problems in both the district and the statehouse. Experienced legislators and other trainers, from the Policy Consensus Initiative and NCSL, led participants in learning the principles and best practices, including the use of technology, and then applying them to real-life examples. Part 1 of the workshop explained the purpose of convening and outlined some tools for success. Part 2 guided participants through planning their own convening processes.
Convening community members to work through an issue is a critical skill and will be addressed throughout the Financial Stability Project.
Trainers:
Representative Kathy Tingelstad, Minnesota
Roger Moe, Former Senate President, Minnesota
Ralph Becker, Mayor, Salt Lake City, Former House Minority Leader, Utah
Lana Oleen, Consultant, Former Senate Majority Leader, Kansas
Tara Perkinson, Deputy Clerk, Senate, Virginia
Greg Wolf, Director, Policy Consensus Initiative, Oregon
Sarah Giles, Program Coordinator, Policy Consensus Initiative, Oregon
Peggy Kerns, Director, NCSL Center for Ethics in Government, Colorado
Katie Ziegler, Policy Specialist, NCSL Women’s Legislative Network, Colorado
Bruce Feustel, Senior Fellow, NCSL, Colorado
Presentation: Convening []
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