“No one is going to fix financial inequity for women. We have to recognize our own self-worth, ask for higher salaries, invest more aggressively, and build our own wealth.” ~ Amanda Steinberg, DailyWorth Founder
Last week, I had the pleasure to speak with Amanda Steinberg, founder of DailyWorth, a daily email that gives women sound financial advice on a wide variety of topics. Amanda isn't trying to achieve some small individual goal with DailyWorth; she and her community of 1000+ people who currently receive DailyWorth are building a movement.
"Women are chronically under-earning and under-saving. I woke up, 30 years old, and realized that even though I was earning a good living, I had nothing to show for it. A lot of women are in the same boat. DailyWorth was created to give women the tools to help them earn what they’re worth and generate their own wealth through savings. I used to operate under the assumption that the more money I make, the more I have. What you have is what you save, not what you earn" said Steinberg.
Suze Orman and Jean Chatzky are smiling wide, and rightly so.
Amanda shared some information with me about the other venture she runs, Soapbxx. Soapbxx "designs and builds superior Internet solutions for global enterprises, using the latest innovations in Web 2.0 technologies." Amanda has been entrepreneurial her entire professional career. She actively mentors the women who work for her and gives them bigger raises than what they typically ask for because she knows how valuable they are in the market. Everyone should be so lucky to have a boss like Amanda.
"They don’t know what they’re worth, and therefore don’t ask for enough. Same with contractors. I often hire contractors for my projects, and female contractors consistently ask for a fraction of what male contractors ask for. Women are often willing to do contract work for 1/3 the price that their male competitors charge," says Amanda.
Even more than unfair compensation, the pet peeve that really gets Amanda going is the constant apologizing women do. "Women apologize for their questions and concerns, and discount their words before even articulating their thoughts and ideas. That has GOT to stop!" she says. And she's right. If we don't stand behind our ideas with confidence, then who will?
Women are heeding DailyWorth's call to action. The site gets 20 new members every day and in 6 months has grown to 1000+ members. To date, DailyWorth has not spent a single dollar on marketing. It's all word of mouth and a grassroots effort. In the next 12 months, Amanda wants 100,000 members. Think that's a lofty goal? It is - and it's a perfect example for all of us. You want to achieve great things, you better set some great, lofty goals. Now. "Welcome to the movement."
For more info: DailyWorth (the website also has many useful links to helpful online finance resources)
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