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> Posted by Jeffrey Riecke, Communications Assistant, CFI
Today, people around the world are celebrating World Population Day, a day that seeks to bring attention to the importance of population issues in the context of development. The focus of this year’s event is adolescent pregnancy, with the aim to catalyze progress in securing a world where every pregnancy is wanted, every childbirth is safe, and every young person’s potential is fulfilled.
There are currently roughly 600 million girls globally ages 10 to 19, 500 million of whom live in developing countries. Each year, 16 million teenage girls give birth, and an additional 3.2 million undergo unsafe abortions. Even though 90 percent of these teenagers giving birth are married, they still experience conditions contributing to challenging pregnancies: inadequate education, sexual coercion, violence, rights violations (including child- and forced-marriages), and gender inequality. In addition to lesser hardships that can come from unplanned or uninformed pregnancies, complications from pregnancy and childbirth are the leading cause of death among girls ages 15 to 19 around the world.
The United Nations is calling for commitments from countries, communities, and individuals to support the provision of quality education for girls from primary school through adolescence, including age-appropriate, comprehensive education on sexuality and health. It’s been found that when a girl is educated, she is more likely to marry later, have children later, have healthier children, and earn a higher income. The UN also emphasizes the necessity for comprehensive sexual and reproductive health services. Other areas that demand examination are the legal systems surrounding marriage (including minimum marriage ages) and women’s rights.
As we have posted about previously (see here, here, and here), the low level of financial inclusion among youth is a missed opportunity to contribute to their well-being. Starting youth out with financial services can be a good investment. A New America Foundation study suggests that instilling a habit of saving among youth sets them on a course for a lifetime of financial capability. According to Youth Economic Opportunities, girls who are less financially dependent are at lower risk for negative effects of early pregnancy and child bearing. In a recent World Bank paper on gender equality and development, it was found that lack of agency (that is, a person’s capability to advance goals she values) is a key factor driving poor reproductive health outcomes among women generally. For example, women in Bangladesh who had more decision-making power were more likely to access prenatal services and skilled birthing accommodations.
> Posted by Jeffrey Riecke, Communications Assistant, CFI
The majority of girls in the United States recognize the importance of money management and are interested in becoming financially empowered. But, even without perceived gender barriers, only 12 percent of girls in the country feel very confident in their ability to make financial decisions. These are some of the big takeaways from a new Girl Scouts of the USA research report, Having It All: Girls and Financial Literacy. Released this past Tuesday in coincidence with Financial Capability Week (it’s also Financial Literacy Month), the report shares findings from a nationwide survey of 1,000 girls aged 8-17 and their parents to better understand girls’ levels of financial literacy, and their attitudes and experiences with money.
The survey revealed that the majority of girls feel most knowledgeable about savings, budgeting, and paying bills, and less so about using credit and investing. On the whole, 90 percent of the surveyed indicated that it was important for them to learn how to manage their money. In spite of their stark lack of confidence, the girls expressed great optimism that they would become financially independent and successful, indicating that they would rather make their own money than have to rely on their significant other, that both household heads should manage the family’s finances, and that throughout their life they would be able to save a lot of money, and be able to retire comfortably. Little relationship between gender and money management was expressed by the respondents. 73 percent reported that men and women are equally likely to be financially responsible, and only 13 percent reported the belief that men are better with money than women. This same 13 percent was mirrored in the responses of the parents.
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