COVID Destroyed Women’s Finances

What happened, why, and how to prevent it.

(Image Credit: Charlotte Parent)

Americans all over are experiencing financial pain, but women, especially women of color, are bearing the brunt.

I touched on this situation a couple of weeks ago, but this topic deserves much more attention. In this article, we are going to review:

1. The ugly truth about how women have been historically set up to financially fail, especially in the United States.
2. Just how big the outsized negative impact on women from this latest recession is.
3. How women can protect their current wealth and plan for their financial futures.

But first, a not-so-fun history lesson.

From Owned Property to (Barely) Owning Property

Over the thousands of years of recorded history, women have had a wide spectrum of legal rights.

The spectrum is illustrated by contrasting the (relatively) large degree of freedom enjoyed by Norse women to the subservient requirements of women in ancient China.

When originally written, America’s judicial system was heavily influenced by English Common Low, which included the shameful practice of coverture.