All Articles Tagged "Generation X"
More than ever, women are confident in their ability to compete against men in the workplace. Women between the ages of 21 and 34, also known as Generation Y, are experiencing more gender equality than older women. However, in trying to reach the perceived caliber of their male counterparts, women have become more stressed, according to a study led by FleishmanHillard and Hearst Magazines.
With a growing “anything boys can do, I can do better” attitude, 70 percent of Gen Y women described themselves as “smart” compared to 54 percent of Gen Y men. However, there is a drawback to the higher self-imposed expectations — the survey found that Gen Y women, compared to Gen X (ages 35 to 49) and baby boomers (50 to 60 years old), are pulling their hair out to reach a certain standard.
“They are describing themselves as smart and knowledgeable, but are also stressed and exhausted,” Stephen Kraus says, senior vice president of Audience Measurement Group. “Around the world young women have promise, potential and pressure, growing up with a cultural narrative that girls can do anything boys can do.”
Over the last five years, women have been ascending in workplace, but there is still a question as to why women are not paid equally as men for the same position. “Though women are more educated but paid less than their spouses, there are signs that a new global generation of Gen Y women are working hard to rectify that inequality,” said Lisa Dimino, senior vice president of FleishmanHillard.
In the study, about half believe that men disapprove of women advancing and possibly “catching up” with them. The female respondents perceived themselves as stronger than men in emotional strength, such as “having difficult conversations” and “rebounding from setbacks,” but they give credit to men in being more successful in negotiating.
The study also shows that women become less focused on personal finances and shift their attention to “longer-term concerns for self, family and business.” American women admitted their number one concern was the future of their children, which was once third on the list of priorities.
This study, titled “Woman, Power, & Money,” polled 1,008 American women between the ages of 25 and 69 with a yearly household income of $25,000 or higher.
As a millennial generation heads into their 20s and 30s, many have had either a great or not-so great example of what it means to manage their money. Although the age of careers, job searches, marriages and first homes are approaching, many millennials still have no clue what it truly means to manage money for their long-term success and comfort. Even parents are sometimes shaky resources for personal finance information.
A 2012 U.S. News Money article finds that Generation Xers (who are now in their 30s and 40s) are the generation with the most financial frustration. Retirees are increasingly responsible for their own savings, income, and financial futures. Let’s face it, we all can use an old-fashioned money management lesson every now and again.
Let’s all learn a little bit from past generations, and keep your money flowing with these old school money management tips.