1 Major Issue caused by Covid-19 that is devastating women around the world.

Just when we thought that the effects of covid couldn’t be worse…

Ladies, I have quite somber news. What would happen when a pandemic ultimately closes schools and relies on parents to watch their children, what would happen when it is mutually agreed that the woman should bear the responsibility of child-rearing and teaching, what would happen if the woman does have a full time job, what would happen if that job happened to be in the hospitality industry, what would happen if the hospitality industry were to close down….

I guess you will get the picture from where I am heading, so I might stop the “what would happen” chasm. It is the sad reality of current covid effects that are being felt by women all over the world. Just through the duration of August and September 2020, the National Women’s Law Centre stated that of the 1.1 million people aged 20 and older who left the workforce, almost 80% were women. Whilst the reasons behind this trend could be credited to a variety of factors, research has indicated a common factor:

A University of Utah study found that 73% of researched mothers were responsible for the majority of childcare and half of the couples surveyed said that education was the “sole responsibility of the mother”. Consequently, the women are expected to take on full-time work whilst also homeschooling children full-time, highlighting the challenging situation that they have found themselves in (thanks Covid!). A study published by McKinsey and Co. found that a third of mothers “had considered leaving the workforce or downshifting their careers during the pandemic”, with many surveyed citing childcare as the major factor of their dilemma.

I hope you are thinking the same as I am, but this is terrible. Whilst you might be thinking that this is a temporary issue that would resolve when that wretched plague ceases to exist, a Women in the Workplace report by Sheryl Sandberg says that this exodus “threatens to erase all the gains women have made in management and senior leadership roles”. If you are uncertain about what I just quoted, that report has politely asserted that the result of years, decades, centuries worth of hard toil and sweat of trailblazing women, ultimately breaking the glass ceiling is under threat! Ah drats.

Ladies, you need to find ways to increase your savings and your influence on this world through side-hustles and investment so that you will never have to go through this stressful time again. I admire you ladies who had to pause or interrupt your careers for your mummy duties, but don’t let this challenge go to waste! This pandemic will cease completely, children are now back to school and life has resumed relative normality; so learn from your experience and now perform a SmartHer Change on your finances. Remember that nothing will stop your progress to your ideal financial future.

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