Im Chris Colburn bill and welcome and as you might know yourself real gender equality is about far more than money its also about recognition equality appreciation we have made some progress womens rights have advanced throughout the decades of my colleague Christina Quba says there is still a lot of room for improvement. More of the want of the employed mean that within those they send their love it may be hard to believe but in west germany in the 1960 s. Married women couldnt get a job without their husbands permission nor will they open a bank account of my christmas the importing young must have a bit i guess he knows may be over but equal rights are often still lacking in germany when it comes to money combining at what is a lot of what the boss who we now. Know was not a mortal. Letting us john lets start so early on average girls get 17 percent less pocket money than boys in dominos theyre back at him and i guess why on earth should this be the case hes going to departments think girls cant manage their assets. Then well then i would add and later women often have lower paid jobs than men its worse than and women tend to be more cautious when it comes to investing their money to support a temple or not even men are more likely to buy stocks and shares and was therefore just women less innocent as not. There is no women who have children can also lose out financially. Yes. That reconciling career and family is still really difficult to sort out and i would im all inclusive and work in the household is of course a labor of love and then the park a hot seat and its done for free to sometimes. Let us know whether or not that i thought i was a woman to pay the price for injuring inequality in germany only half the adult the amount population what the other half contribute nothing or very little into a pension fund when women here get on average just half the pension men do hotel in old age is a risk or reality for way too many i think when less than 50 years ago i remember the lives of women in germany now we women are legally free but we still have a way to go to really overcome financial inequality between the sexes. Now as my colleague just mentioned an increasing number of women are facing a growing social problem poverty and all the age some having to get by on a dangerously low pension is already a harsh reality also here in germany my colleague met a retiree whos budget is so tight that even treating herself to an ice cream as big financial consequence cost me a point to what i have left is 5. 00 euros 60. Or the fab 560 per day well yes and if my t. V. Breaks down im done for if my washing machine breaks im done for thats life always going out for coffee or something you know no we dont need that we dont exist anymore. No one talks about us. This is the smallest amount of money in that has had in our lifetime pension isnt enough to live on Social Security covers a rent after other fixed costs like electricity and medicine shes left with 5. 00 euros 60 per day to pay for food cleaning products repairs and everything else. Reply as it is priceless his price would i cant say to myself today im going to buy this or that no i really have to look out for bargains is this comes to just one vandals of the flat when did you last go shopping apart from food for clothes for example not at all of the last time shopping probably 2530 years ago. She swaps her clothing and saves up all year to buy presents for her grandchildren. Although its quite a challenge right ones as to how you get used to it was i think over the years ive gotten pretty good at saving and finding the best deals in the Search Engine off youll. Get your raise 2 children and was a housewife after that she worked at an archive it was only then that she started paying into the pension system. By and sponsorship i worked for 22 or 23 years or dom so today you know what i tell myself is i didnt work all that long i didnt pay into the system all that loan knowledge or so shut up be happy with what you have this seller couldnt talk socialising i dont have money for that as lots of things on offer but everything costs money but what about. Your excluded from society yes excluded from society coop. Law. Vivica has this is it important for you not to let people see how little money you have to figure out how 0 very important the dish is the most important why the well my Children Health and so on. But no. Thats nobodys business. Before you know you need to earn admiration pity you get for free i dont want that for you. What do you miss the most. When im walking on the street and i see people eating ice cream you can imagine how much id love to sit there and have 2 scoops with fruit and some cream but no i cant. Let myself in that you have to be inventive and thats how you can make life more bearable like this one especially if you have a sense of humor and i do believe i have one. Yes you do even if its just gallows humor horrible accu are slots all the while. Now finding yourself in a situation where you cant even allow yourself an afternoon snack of something im sure we all want to avoid no matter what gender my colleague don you are speed is very aware of the problems her gender faces in retirement so she decided to get a grip on her finances at an early stage in her career and got some advice and a financial mentoring geared towards women. On them yeah im in my mid thirties and im starting to worry when i have enough money for the future will i be able to afford things like this when i retire. In 201742 percent of retired women in germany got a state pension of less than 600. 00 euro some month. To subsistence minimum the 735. 00 euros on average women in germany get smaller pensions for men they tend to have gaps in their birthing lives and they pay less into the state pension fund. That wouldnt even cover my rent ive signed up for a private pension plan but even that wont be you know so its time for some change. I dont think is. Kind of money i can get in mexico i can do that now like i like have savings to for my retirement i dont know yet what im going to do about it i have to figure it out but right now theres like a. I dont know what the 7 was in charge of finances and your family is low and i would also tell you its actually both of us though im more involved up when the time for that was important to me it clicked uppish time away how quickly life can change and my situation can get suddenly critical and for a woman and shes totally stuck. A recent survey suggests only a 3rd of women in germany plan ahead for old age. I really want to get a grip on my finances i have started to knock down every cent i spend there is an app for that. When i get home i transfer all the figures into a spreadsheet so i have an overview. Now i can tell you how much i can put aside for emergencies for example if my scooter breaks down. But what am i going to do with the money thats left over. After trying to the internet for advice on facebook or find a group called madame moneypenny which helps women secure Financial Independence it has 40000 members men arent allowed to join. So it. Is managed by not tasho beginning she also makes parker and runs a mentoring program to teach women about managing their finances and building up some capital. For part casts have been downloaded more than a 1000000 times and. Was. I asked her why she thinks so many women struggle with these issues. As little as a hold up in money as a mom thing money is dirty and having lots of money means youre egotistical deserve to have money to be prosperous these are some of the things women often say as well. And hearing them again and again shapes the way you think about money. Thank you. And then theres the nation that girls arent good with numbers. System so theres a kind of downward spiral i think thats why many women leave Money Matters to all those levels of. Im resolved to take charge of my finances myself and when i asked not to should be given how she would invest a 1000 euros in. Her answer 10 percent she would donate to a charity 10 percent invest in herself by say taking a from a Training Course 30 percent she would invest in emerging market shares and 50 percent in stocks in developed countries but why such an emphasis on stocks rather than other asset classes. Exchange the market doesnt care if youre male or female what color your skin is. Thats why i really like this kind of investment thats all that matters is getting it right lots of suspected. Case study by u s s of menage of fidel and she found that women perform better than men fight 0. 4 percent it may appear to be a minor difference but can have a Significant Impact over time so im going to invest about a 5th of my net income in stocks. As a journalist i often go abroad and not be wondering if the women in other countries are also hesitant to take charge of their finances. Stephanie oconnor is on a mission to help them vicious women feel as confident of their money as they do in their careers you know a generation ago in the United States a woman. With. Her 1st signing on so. That her own money and built well is still a relatively new concept. Im very best starting to plan for my retirement just as my grandmother used to say money does make you happy i can give you peace of mind. And you know its grandmother sounds like a wise woman so why do so many women often have so much less Financial Support in old age than men we broke it down for you. Why do women earn less. Its not a myth womens wages remain low while mens climb higher and higher this is a fall in germany she earns 21 percent less than a man and she has far less chance of obtaining a company car but where does the difference come from lets look back a couple of decades. In the wake of the 2nd world war in germany there was a shortage of men and women had to take on hard work their fight for just wages was particularly loud women demanded equal pay and they were successful. Then came the bitch Office One Day the economic miracle the traditional gender roles returned with a vengeance. In west germany at least they have a could remain a housewife and stay home to take care of the kitchen the kids and her husband. Both socially and legally men were seen as the only breadwinners this role division continued for decades and it continues to affect employment today. Favorite shows a typical womens job working in a Human Resources department. Careers in i. T. The Natural Sciences and high tech didnt interest her. The problem is typical womens work is paid less nurses and caregivers often earn less than a Truck Mechanic for example for in addition eva interrupted her career to raise a family and later worked only half days she never sit in the bosss chair. Vicious circle. As it stands now researchers say evil would have to work almost another 170 years before she finally earns as much as a man equal pay in germany wouldnt become a reality until the year 2187. There are leaders who are working to change this dire prospect trying to build a more diverse and just world among them. Shes the director of the Human Resources department at the International Monetary fund a washington correspondent Helen Humphrey so don to talk with you everywhere you look all of the time people are trying to make more of it im talking about money profits while the leaders want to boast about Economic Growth but it turns out quite a lot of countries are missing a trick on that you into a secret when it comes to Economic Growth empowering women to do the jobs they want to do in society means youll make a far lot more cash far quicker and you dont just have to take my word for it that is the assessment of the International Monetary fund here in washington d. C. Im here to meet kalponik culture she is needing the push for gender and diversity here to find out what countries should be doing to capitalize on a sure fire way to grow capital. When we talk about womens empowerment in the workforce of course were talking about equal opportunities were talking about lets face it human rights but to a certain extent all we just talking about money this is about growth too isnt it we believe that talent is distributed equally between men and women inherently and putting artificial barriers on half of your population. Means that youre not getting the best talent into the workforce and that has an impact of productivity that has an impact on profits and ultimately that has an impact on income and the numbers are quite startling they range from about 5 to 10 percent even in advanced countries like the u. S. Or western europe 2 very large numbers ranging to 35 percent in kind some countries in the middle east and south asia so these are not trivial amounts of money and one of the main barrys that youre specifically seeing here at the i. M. F. Across the world they start inequalities of opportunities in at birth in many countries as you know. Theres sex selection even before the child is born assuming that there are born there is inequalities of opportunity in health and in Education Access to finance this could be through differences and how much access you have to Property Ownership of property inheritance and all the countries that keep you awake at night for example with practiced it just isnt going to get women where they need to be not just for women but for the health of the Global Economy yeah there are many reasons to to stay awake at night let me let me raise india as one example where. Female Labor Force Participation is low. But what stands out is actually has been declining over the last few years this stands in contrast to many countries say of latin america where a few men they were forced participation was low but over the last 10 years its made significant gains all right so lets talk about the International Monetary fund itself then you are the boss of Human Resources at the head of this organization of course Christine Legarde also a woman but what about throughout the organization is it 5050 between men and women 5050 is actually where we are right now institution wide at the leadership level but were making really Good Progress im very happy to say that right now we have exceeded the target that we set for 2024 women in leadership positions that target was 30 percent and we have exceeded. Called us selfproclaimed or said by regulators thats what it often takes nowadays to help women break through the Glass Ceiling however there are places in the world that are under 100 percent female leadership like in west sumatra which is home of the ethnic group women call the shots there lets take a look at the largest metro lineal society in the world. Shes the boss. So is she. And so is she. Among the mean and care about people of sumatra the women are in charge but im one of them yes a terrible day at work about women are strong because in our tradition and culture they hold a strategic position where the leaders the moral guardians that the pillars on the foundation and money the women have all thora to. What makes this matriarchy even more unusual is that its in a country where the majority of the population is muslim and the power the women hold isnt just symbolic unlike most traditional communities around the world my sons inherit from that follows here it all goes to the women from bournemouth out there. Its the woman who owns everything. She owns the house the property the fish poems the rice fields. Everything really really advise me to stay out of my time at the pub one. Is one of 2 and a half 1000000 women she lives on the island of sumatra where she produces the most expensive coffee in the world cup you are also a bit coffee the beans come from coffee cherries that have been eaten and definitely aged by the asian palm civet its a highly specialized product and popular all over the world. So i also bought another yeah i actually started this business on my own without help from anyone not the government or anybody else so. I started my separate coffee production from 0. To accept of the. I just thought if other people can do it why cant i. Thats my motto thats why ive survived in the civic Coffee Business to this day. Its typically dominated by men. Who move is the only daughter in the family so she inherited the house and fields she employs farmers from all over the region and determines the prices has south passed down from one generation of women to the next the 1st land of western sumatra has been a source of wealth for the mean people for centuries. So my whole younger so i think theres a lot to learn from our women. From their selfreliance. From their respect for other women. And from their independence. When mean and care about couples marry the man moves into the wifes house and whats in her fields most men come from other families and on the village in his opinion about inheritance is divided. And i havent really thought about marriage yet. But thats still a long way off from a good many. Of them and its a might do would have to go i think we should respect the traditions inheritance should go to the daughter of one. Can. Be to satisfy cliquey i was educated men should be leaders they should be men. But in our culture its the women who have the privilege and thats not right to. Claim that i can take religion says it should be the men who lead because women need to be protected thats their privilege and item of anything in life thats the way it should be im not the only person with this opinion you can see out of there. As i am. Grouping get. I often get into conflict about this with my family. You have an idea theres a woman in my family who says men have no rights. Its not that i have no rights we have duties amongst just the inheritance that only goes to the woman what. They mean certainly safe from the threat of male dominance the women are in control they have economic power and authority because of what they own. Dreams of having a daughter from where. I gave birth to 3 songs. Fair enough it might take some time until the world has adopted the matriarchal approach until then heres a call to political and Company Leaders how about providing proper daycare for kids so that mothers dont have to worry anymore about whether they are neglecting either their child or their career a long overdue step and the working. For this week for me and the entire team here at made thanks for watching ensues. Europe. What unites. What divides us. The most. Tragic course. What binds the continent together the balance or sense stories of plunging a. Spotlight on people. Of some good. 30 minutes on d w o. Climate change. The state. Environmental. Globalization affect biodiversity Species Conservation exploitation of ecology. Human rights displacement cold chills the Global Impact of local action. Global 3000. Even 90 minutes on d w. O. Be tough it is for me. Its for. Beethoven is for. Me. Its for her. And beethoven is for. Beethoven is for every modern main toben 2020 years of the 50th anniversary here on d w no. What secrets lie behind small. Discover new adventures in 360 degree. And explore the major World Heritage sites of the. World heritage 360 well get to that now. My 1st boss was the sewing machine. Icon for all women are owned by this social influence even something as simple as learning how to write a bicep those is and. Since i was a little girl i wanted to have both eyes id lost my home and it took me years to been there. Finally they gave up and mentioned by me on bicycles but returned because sewing machines sewing i suppose was more appropriate for goes than writing im biased as knowledge i want to reach all of those woman back home who are boned by the duties and social norms and informed and old the basic rights my name is the about of the group homes and i work at some of them. This is g. W. News and these are our top stories the World Health Organization says its a deeply concerned about the rapid escalation and global spread of the corona virus there are now 205. 00 countries affected and more than 900 cases 900000 cases worldwide in the 50000 people have died. There are growing fears of under arrest as italy enters its 4th week of lockdown armed police have been deployed