To think every woman should have at least £20,000 in savings she can access independently?

Yep - domestic science and housecraft was on the way out and I went to a girl’s school.

It’s easy and possible to do - definitely. But I think you are being a bit flippant as to how easy it is to come by this knowledge. I am from the pre social media / pre smart phone era. I learned about investing, stocks and shares ISAs etc very late (I was in my 30s) and that was purely accidental. Unfortunately It’s a case of you don’t know what you don’t know and it doesn’t even occur to you to know where to go to find out what you don’t know.

I do think grace is owed to those who simply don’t have this information and don’t know they don’t know it.

(I am playing my part in remedying this lack of knowledge for my nieces and nephews though.)

I’m 41 and I did…but then again I was educated in Ireland.

I didn’t learn that at school and I am 45.

I actually agree with you—it's not just about security, but about freedom of choice. Having accessible savings means you can make decisions based on what you want, not just what you can afford in the moment; for example, if you suddenly feel like taking a break, you could easily rent a car and go on a road trip in the UK for a long time without worrying about the cost, and that sense of independence is really valuable.

Wouldn't it be part of the marriage pot in the event of a split anyway? I think the set up where one person works and the other stays home for the entirety of the marriage is usually pretty unhealthy and not desirable but I don't see the point in getting married if you're going to keep a large sum of money hidden with the plan to walk off with it in the event of a split. The institution is generally set up to protect the lower earner still.

This is a weird thread.

I think women working and not giving up their financial independence is very important.

For crying out loud...schools are not there to teach life. If we want them to do that, toss out the academic stuff. I know some would think that's a great idea but until it is, stop asking us to do the job of parents.

In fairness schools do teach compound interest and model the effect over time. Don't believe me, see Martin Lewis, GCSE specifications and GCSE exams. Funnily enough most 16yos don't give a shit.

20k is unachievable for many. Lots don't have £5 to spare, never mind £10 a month.

20k is an arbitrary figure anyway. I agree that where possible all people should have a fund of their own money, male or female. But I'm not naïve enough to think this is achievable for all. Goady posts like the OPs aren't particularly helpful when trying to educate people. I also think your sums aren't correct to get 20k but it does depend on the interest rate you used.

You think every woman has this much money that they can save, how naive and privileged are you !

The OP didn’t say overnight though. She said work towards or words to that effect. OP didn’t mention an age to have it by. All I’m saying it’s possible to generate wealth as a woman in a drip feeding type way over time. The compounding then started to make a dramatic difference so whilst the initial progress is slow- the compounding means you get higher faster growth in the later years. But hey I gave you a timeframe - what ideas have you come up with to help more women ? I’d love to hear them. Most of my wealth has been generated by keeping costs under control, and investing as much as I can from a young age. I worked this out for myself age 22. My parents don’t have a clue, the schools are useless and don’t teach these skills. But it’s completely easy and possible.

It should not always be up to schools

No, I school is full of all the other stuff that people wanted teaching. Funny that schools can't teach everything.

Well, it says a lot about the educational systems in this country if parents can't sew on a button !
Don't they teach housecraft/domestic science in schools any more ?

Your maths is extremely off.

I agree with you but are parents capable of doing this themsleves let alone teaching their children, that is one issue

I’d feel nervous if I had less than 100 billion lying around frankly 🙄

@PollyBell "But shouldn't all adults be responsible for themselves?"

This x 1000

Boys should be taught how to cook & sew on a button and women should know how to rod the drains and decorate.

On top of that women should be encouraged to get skilled-up and be self sufficient financially.

If you put in an initial £100 then £10 a month, but the time you retire you’d have £20,000 with compound interest. If you save in a stock and share ISA then you’d have more than that.

It would be great but it’s not achievable for many and I write this as a woman who has saved and invested from my later teen years.

A man should never be a plan but it seems the idea is becoming more not less popular

But shouldn't all adults be responsible for themselves?

That takes 20 years though! Hence u achievable overnight, or even in a time frame that might be supportive.

I completely agree with you. And I don’t agree with people who say it’s not achievable. It’s entirely possible as a woman even in a low income to educate themselves about finances and invest a small amount monthly amount in an all world equity fund with a stocks and shares ISA . If you invested £25 a month over last 20 years you would have between £18-£20 k and contributed £6 k

Raise that to £50 a month would be between £36-£42k

There are so many easy to use investment platforms on the internet and free courses to help you build a nest egg. But many people assume it’s beyond them. I think you can invest as little as £10 a month.

That sounds incredibly tough. I can’t even comprehend what it must feel like to be living with no savings at all and no buffer to deal with unexpected expenses.
Dont you ever go on day trips, meals out or shows?

I assume “direct” is your term for “tone deaf”?