Yikes: "Poverty is a State of Mind," a Major Math Error & Yet Another Pay Gap for Women

  • IMPOVERISHED STATE OF MIND: Oh lord Ben Carson...did you really just say that? The former presidential candidate and current Secretary of Housing and Urban Development actually said that being poor is a state of mind. Why do we care? Carson is in charge of the governmental organization that allocates funds for low income people. Sorry Ben, but wishing away poverty isn't exactly good monetary policy. 
  • ANOTHER PAY GAP: It never ends, does it? The American Association of University Women released a report this week that shows that women hold nearly TWO-THIRDS of the nation's student debt. True, we do have a higher graduation rate than men, but the difference is not this massive.  
  • BAD MATH: President Trump's long awaited plan for the U.S. budget was released this week. At the heart of it was a $2 trillion math error. The creators of the budget double counted budget cuts because they assumed cuts will lead to economic growth. Anyone who has tried to cut spending knows that this is exactly NOT how money works. 
  • FUTURISTIC FINTECH: A financial planning app's creators, a team of all men, pivoted when they realized women loved their app. Joy is the latest of many techy financial tools made specifically for women.  
  • FINALLY, A WIN!: One of our fav biz news sites, the Harvard Business Review shared a piece this week on how the Boston College Group managed to close the gender gap in retention rates. Read up!
  • MARKET UPDATE: The financial markets were relatively quiet this week, as earnings season is winding down. Yesterday oil prices fell 5% after oil producers agreed to limit cuts for nine more months. We're still in a bull market and to be honest, I think we'll be here for a bit of time. Things that could change that include big moves in the Russia investigation (as evidenced by last week's fall and rebound). 

Alicia McElhaney / She Spends Issue #4