About FEFW
Since the turn of the century, educational attainment rates of females in the U.S. have surpassed that of males at all degree levels.[i] However, women are still paid less than men for equal work. Here in New Mexico, women make 78 cents for every dollar paid to their male counterparts. According to the United States Census, in 2015 average salaries for men and women with a bachelor’s degrees were $51,171 and $39,115, respectively.[ii] This amounts to a disparity of more than $12,000! How can the educational attainment for women have increased, but wages have not?
The gender wage gap is real and we must concentrate our efforts to close it. The State Treasurer’s Office is committed to focusing on financial empowerment for women by developing and implementing programs and initiatives that give women the tools they need to succeed in the workplace and at home. Knowledge is power, but without being afforded the same opportunities and wages, intelligent hardworking women can be rendered powerless. Continuous access to information, providing free resources, and developing workshops and opportunities to learn strategies for financial success are ways in which STO can fulfill our commitment to the economic stability and prosperity of the women of our state.
[i] National Center for Education Statistics (2017) Fast Facts.
https://nces.ed.gov/fastfacts/display.asp?id=27
[ii] United States Census Bureau (2017) American Factfinder: New Mexico.
https://factfinder.census.gov/faces/tableservices/jsf/pages/productview.xhtml?src=CF
Tools
Immediate Loans During COVID‑19 Pandemic
If you own a small business, the Small Business Investment Corporation (SBIC) is making $25 million immediately available to local lenders at zero percent interest through two programs:
1. The Loan Fund: Email Leroy Pacheco at info@loanfund.org, call 505-243-3196, or visit https://www.loanfund.org/.
2. DreamSpring: Email Marisa Barrera at info@dreamspring.org, call 505-270-0285, or https://www.dreamspring.org/.
For larger loans, the State Investment Council (SIC) created the Recovery Fund with $100 million available for businesses that have 50 or more employees. The SIC will finalize details at its next meeting. The lead for the Recovery Fund is Brian Burk of Sun Mountain Capital in Santa Fe.
Chambers of Commerce
You can find a list of all New Mexico Chambers of Commerce here: https://www.chamberofcommerce.com/chambers/united-states/new-mexico/.
Money Smart—A Financial Education Program
Financial lessons for adults including an introduction to bank services, exploring credit, checking and savings accounts, consumer rights, and financial setback recovery.
https://www.fdic.gov/consumers/consumer/moneysmart/adult.html
https://www.fdic.gov/consumers/consumer/moneysmart/mscbi/mscbi.html
Consumer Information
Resource for information on shopping and saving, buying and owning a car, credit and loans, dealing with debt, and resolving consumer problems.
https://www.consumer.ftc.gov/topics/money-credit
The Mint—Financial Security for Tomorrow Starts Today
Practical advice on how to talk to children about financial literacy.
Hands-on Banking—Money Skills You Need for Life
Easy-to-understand website with information on how to properly use credit, create a budget, and save for the future.
Financial Capability
Downloadable documents that explore wealthbuilding , taxes, the cost of college, financing a family, retirement, and more.
https://www.nusendafoundation.org/programs/financial-capability
Practical Money Skills Calculator (Mobile App for Apple iOS devices)
Boost your financial literacy with calculators for forecasting and assessing financial choices.
https://itunes.apple.com/us/app/practical-money-skills-calculators/id371167241?mt=8