We aim to empower young girls by teaching them how to understand and manage their finances while spreading awareness for the need for financial education in classrooms worldwide.

For a long time, women were not allowed to legally own property and could not apply for their own credit cards until 1974. According to a report from Merrill Lynch entitled Women & Financial Wellness, 61% of women prefer to discuss their own death over money, and nearly half of women say they lack a financial role model. There exists an absence of dialogue and open conversations about money. Three in five women say that lack of knowledge is their number one barrier to investing. All women surveyed wish they received more financial education, and 87% believe that basic money management should be a standard component of the high school curriculum. 

Unfortunately, according to research released by Greenlight Financial Technology, the gender gap in financial confidence begins as early as age 13. A Girl Scouts survey found that only 12% of girls feel very confident making financial decisions. Inequality starts at a young age; on average, girls receive less pocket money than boys. The gender pay gap is also startling. Women earn around $0.82 for every dollar a man makes.

Financial literacy is directly correlated to less crime and divorce and greater emotional and mental stability. Unfortunately, however, financial illiteracy is pervasive in the United States, and few schools succeed in fully equipping their students with the knowledge necessary to become successful, contributing members of society. 

Young adults cannot drive on public roads without a driver’s license and a minimum of 50 hours of practice, so why should we be allowed to take the wheels of our financial lives with little to no education? Only eight states (Alabama, Mississippi, Missouri, Nebraska, North Carolina, Tennessee, Utah, and Virginia) guarantee every high school student access to a semester-long personal finance course prior to graduation. Minorities have even less access to financial education. According to a Next Gen Personal Finance study released in the spring, outside of states which guarantee students access to a personal finance course, in schools with 75%+ Black and Brown student population, only 1 in 14 students were guaranteed to take a standalone Personal Finance course prior to graduation. Unfortunately, money conversations at home are not ubiquitous, either; 69% of parents are reluctant to discuss money matters with their kids. 

iFLEX strives to level the financial playing field and to empower young women to take charge of their financial futures with confidence.