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DKG Practice/Program

NC DKG Financial Literacy

Seminar: A Reflection and

Challenge

By Barbara Perry-Sheldon

In 2022, several members of the North Carolina State Organization of Delta Kappa Gamma (NC DKG)
discussed offering a seminar on financial literacy. Based on a review of literature about financial literacy
and gender and on their own experiences, the members thought that such a seminar would be helpful
to women. Also, a survey of members indicated an interest in such a seminar. The NC DKG president
appointed a committee to pursue planning and funding for the seminar in April 2023. The committee
submitted a proposal for a DKG International Educational Foundation Cornetet Seminar Professional
Development Award and began planning once the grant was approved.

Need for the Seminar
Numerous researchers have described differences between men and women in financial literacy and
financial confidence. A survey reported by Fischer (2023) noted that “only 53% of women say they feel
financially confident about retiring at their target age, compared with 66% of men” (p. 1). In addition,
Fischer reported a large gender gap related to having a financial plan: 74% of women lack a plan as
compared to only 58% of men. Financial guru Suze Orman (2018) noted women are 40% more likely than
men to live in poverty in retirement, 60% of women worry about retiring without enough money, and half
worry about being homeless.
Such concerns are not without merit because women live longer in retirement than men and earn less
than men:
Women earn less than men in nearly all occupations. Lower earnings over the course of their careers
jeopardize women’s retirement security. An enjoyable retirement experience brings gratification,
and proper and careful retirement planning during the pre-retirement stage is essential in order to
achieve this dream. (Sabri et al., 2015, p. 405)
Bucher-Koenen et al. (2017) reported
that gender differences in financial literacy
and confidence are similar across countries
for both older and younger women. They
noted that even women in positive financial
situations or those more educated lack
financial literacy and report knowing less
about finances than men. These authors
concluded that, because women tend to earn
less than men and live longer, “improving
women’s financial literacy is key to helping
them prepare for retirement and promoting
their financial security” (p. 255).
Holmes (2024) described a knowledge
gap in managing finances in some families.
She noted that often one spouse, the

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