i have mom to my cities days for centuries and accompanied my country through its finest hour. until the day i knew. not down deep. down to a jury. it is the year 2019 we're sending money around the world while phones are talking about autonomy as flying taxis were taking pictures of black holes in space and still a woman makes less money working in the same job as a man we need to talk about that mind the gap that's our topic this week on made

i'm chris colburn berlin welcome and as you might know yourself real gender equality is about far more than money it's also about recognition equality appreciation we have made some progress women's rights have advanced throughout the decades but my colleague just you know cuba says there is still a lot of room for improvement. nor for much of the employed mean that within those they send their love it might be hard to believe but in west germany in the 1960 s. married women couldn't get a job without their husband's permission nor will they open a bank account of my guess was the imposing young must have a bit i'm going to lose maybe over it all but equal rights are often still lacking in germany when it comes to money combining at what is i don't let it be the. single was not a little. lesson yes john let's start slowly is that if you want an average girls

get 17 percent less pocket money than boys in the men lost their passion my logic is why on earth should this be the case it's going to departments think girls can't manage their assets. can receive them. and then one that i would add and later women often have lower paid jobs than men it's worse than and women tend to be more cautious when it comes to investing their money to support a hempel or not even men are more likely to buy stocks and shares and was therefore just women less you know so that's not let me. actually there is no women who have children can also lose out financially as have years let me know that reconciling career and family is still really difficult to support and i would i'm all inclusive and work in the household is of course a labor of love the office and then the park a hot seat and it's done for free who sometimes.

let us see whether or not that i want a woman to pay the price for injuring inequality in germany only half the i don't the amount population what the other half contribute nothing or very little into a pension fund even though women here get on average just half the pension men do poverty in old age is a risk or reality for way too many i think went 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 in all their 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 who's budget is so tight that even treating herself to an ice cream as

big financial consequence cost me a point what i have left is $5.00 euros 60. or the 560 per day well yes and if my t.v. breaks down i'm done for if my washing machine breaks i'm done for that's life always going out for coffee or something you know no we don't need that we don't exist anymore we're men and no one talks about us. this is the smallest amount of money in the jokes that has had in our lifetime pension isn't enough to live on social security covers a rent after other fixed costs like electricity and medicine she's left with 5 euros 60 per day to pay for food cleaning products repairs and everything else.

the plaza these priceless these price would i can't say to myself today i'm going to buy this or that no i really have to look out for bargains these misconstrues is one vanzant of the flat when did you last go shopping apart from food for clothes for example not at all for the last time shopping probably 2530 years ago. she swaps or clothing and saves up all year to buy presents for her grandchildren. although it's quite a challenge right now just all you get used to it was i think over the years i've gotten pretty good at saving and finding the best deals in the city and sure enough you'll. 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 i know what i tell myself is i didn't work all that long i didn't pay into the system all that long knowledge so shut up be happy with what you have this so it's hard to talk socialising i don't have money for that as there's lots of things on offer but everything costs money but. as a share your excluded from society yes excluded from society coop. though. the viciousness is it important for you not to let people see how little money you have to figure out how 0 waste very important the dish dishes the most important why the well my children health and so on. but no. that's nobody's business. the voice more you need

to earn admiration pity you get for free i don't want that for you. this is just what do you miss the most. when i'm walking on the street and i see people eating ice cream you can imagine how much i'd love to sit there and have 2 scoops with fruit in some cream but now i can't do it. well myself in that you have to be inventive and that's how you can make life more bearable i think as well especially if you have a sense of humor and i do believe i have one. yes you do even if it's just gallows humor horrible accu are slots all the while. now finding yourself in a situation where you can't even allow yourself an afternoon snack of something i'm sure we all want to avoid no matter what gender my colleague don you know it 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 in a financial mentoring geared towards women. on them yeah i'm in my mid thirties and i'm starting to worry when i have enough money for the future will i be able to afford things like this when i retired. 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 heroes on average women in germany get smaller pensions than men they tend to have gaps in their berkin lives and they pay less into the state pension funds.

they wouldn't even cover my rent i've signed up for a private pension plan but even that won't be you know so it's time for some change . i don't think is. kind of money i can get in mexico i can do that now like i have savings to for my retirement i don't know yet what i'm going to do about it i have to figure it out but right now there's like a. i don't know what the 7 was in charge of finances and your family disciplines i would all fit well it's actually both of us though i'm more involved with it i thought that was important to me he clicked up mission i'm away how quickly life can change and my situation can get suddenly critical and for a woman and she's totally stuck. in a recent survey it 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's an app for that and 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. but what i'm not going to do with the money that's left over. i turn 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 aren't allowed to join. so it. is managed by montage of the giving she also makes podcasts 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. was. i asked her why

she thinks so many women struggle with these issues. as little as a hold up money is a mom thing money is dirty having lots of money means you're egotistical to deserve to have my lot to be prosperous these are some of the things women often say well. i'm hearing them again and again shapes the way you think about money. things. and then there's the notion that girls aren't good with numbers. so there's a kind of downward spiral i think that's why many women leave money matters to others and little is full of. i'm resolved to take charge of my finances myself. 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 and 10 percent invest in herself the best 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 of a s a classless. look exchanged the market doesn't care if you're male or female or what color your skin is. that's why i really like this kind of investment all that matters is getting it right to. study by u s s's manager fidel and she found that women perform better than men by 0.4 percent it may appear to be a minor difference but can have a significant impact over time so i'm going to invest about a 5th of my net income in stocks. as a journalist i often go abroad and i've been wondering if the women in other countries are also hesitant to take charge of their finances. stephanie o'connell is on a mission to help them vicious women feel as confident with their money as they do in their careers you know a generation ago in the united states a woman. with. first sight so.

that her own money and built well is still a relatively new concept for us. i'm bad but i stuck to my retirement just as my grandmother used to say money doesn't make you happy i can give you peace of mind. wow. and you know his 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. it's not a myth women's wages remain low while men's 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 let's 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 off of the economic miracle the traditional gender roles returned with a vengeance. in west germany at least favorite 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. eva chose a typical women's job working in a human resources department. careers in i.t.

the natural sciences and high tech didn't interest her. the problem is typical women's 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'd never sit in the boss's chair. a 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 wouldn't become a reality until the year 2187. there are leaders who are working to change the stier prospect trying to build a more diverse and just world among them. she's the director of the human resources

department at the international monetary fund a washington correspondent helen humphrey so down to talk with her everywhere you look all of the time people are trying to make more of it i'm talking about money profit 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 you'll make a far lot more cash far quicker and you just have to take my word for it that is the assessment of the international monetary fund here in washington d.c. i'm 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 women's empowerment in the workforce of course we're talking about equal opportunities we're talking about let's face it human rights but to a certain extent are we just talking about money this is about growth too isn't it we believe that talent is distributed equally between men and women inherently and putting artificial barriers on half of your population. means that you're 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 of some countries in the middle east and in south asia so these are not trivial amounts of money and one of the main barrys that you're 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. there's sex selection even before the child is born assuming that they 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 practice that just isn't 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 and i 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 it's made significant gains all right so let's 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 we're making really good progress i'm very happy to say that right now we have exceeded the target that we set for 2024 women of leadership positions that target was 30 percent and we have exceeded. called us self-proclaimed or said by regulators that's 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 let's take a look at the largest metro lineal society in the world. she's the boss. so is she. and so is she. among the mean and care about people of sumatra the women are in charge. of that. about women are strong because they're not tradition and culture they hold a strategic position but now while their leaders the moral guardians that the pillars on the foundation for the women have authority. what makes this matriarchy even more unusual is that it's in a country where the majority of the population is muslim and the power the women

hold isn't just symbolic unlike most traditional communities around the world by sons and heritage from their fathers here it all goes to the women from bournemouth out there. it's the woman who owns everything. she owns the house the property the fish poems the rice fields. everything to. advise me to sort 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. of coffee beans come from coffee cherries that have been eaten and definitely aged by the asian palm civet it's a highly specialized product and popular all over the world. so i asked about 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 can't i. that's my motto that's why i've survived in the civic coffee business to this day. business. it's typically dominated by men. 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 herself passed down from one generation of women to the next the 1st highlander western sumatra has been a source of wealth for the people for centuries.

so my whole younger so i think there's a lot to learn from our women. from their self-reliance. from the respect for other women. and from their independence in the bend. when mean and care about couples marry the man moves into the wife's house and what's in her fields most men come from other families in on the village and his opinion about inheritance is divided. i haven't really thought about marriage yet. that's still a long way off from a good many. of them and it's my. go i think we should respect the traditions inheritance should go to the daughter what i'm. getting.

out of that i think he has regular king men should be leaders they should be a man. but in our culture it's the women who have the privilege and that's not right. that i can accuse religion says it should be the men who lead because women need to be protected that's their privilege actually and that is the motto that's the way it should be i'm not the only person with this opinion you can see out of there. grouping got. i often get into conflict about this with my family. you have an idea and there's a woman in my family who says men have no rights. it's not that i have no rights we have duties in the moments just the inheritance that only goes to the woman.

safe from the threat of male dominance the women are in control they have economic power because of what they own. dreams of having a daughter. and i gave birth to 3 songs. fair enough it might take some time until the world has adopted the matriarchal approach until then here's a call to political and company leaders how about providing proper daycare for kids so that mothers don't have to worry anymore about whether they are neglecting either their child or their career a long overdue step in the work and. that's our show for this week for me and the

entire team here at d w maybe thanks for watching and see. into

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