A History of Women and Money
From ancient power moves to recent financial victories, consider this your history lesson on women and money.
Women & Money
From ancient power moves to recent financial victories, consider this your history lesson on women and money. We're spilling the ancient tea on how women and their coin have been entwined throughout history. Despite women having equal financial rights as men in ancient Egypt, and women owning estates like NBD in ancient Rome, The Middle East, and Europe, it’s never been easy for women seeking financial freedom throughout history. From the ability to inherit estates to the opportunity to open our own bank account and take out loans without a male guardian, we’re demystifying some major historical events surrounding women and money.
All milestones apply to the United States.
1862: The Homestead Act Passes
The 1862 Homestead Act was low-key revolutionary for women. It marked the first time Uncle Sam was like, "Hey ladies, want to own some land?" Women could snag 160 acres just like the guys – a major power move in a time when women's rights were still on the grind. Girlies took advantage — staking their claim and defying the norms, turning acres of wilderness into their own domains. The Homestead Act wasn't just about free land; it was a stepping stone for women to cultivate independence on the frontier. 👩🌾 #HomesteadingGoals.
1880: Mary Gage and Hetty Green Hit The Scene
Mary Gage proved to be the OG finance babe, opening a stock exchange just for women in 1880 and slaying the game with her own money on railroad stocks. (Love an industrial queen.)
Meanwhile, we have Hetty Green, the notorious "Witch of Wall Street" and value investing pioneer, being a total cheapskate but also low-key a financial genius, consolidating her fortune like she's playing some high-stakes chess game. 🔮 Imagine a Wall Street showdown with these women at the helm – some seriously shrewd money moves.
1903: Maggie Lena Walker Opens The First-ever Bank Chartered by a Woman
In 1903, Maggie Lena Walker rolled up to the scene, decided women needed more, and opened the first-ever bank in the US chartered by a woman. This trailblazer wasn't just breaking glass ceilings; she was shattering them, creating a space where women could handle their own money. Ladies in fierce hats and gloves making money moves? Yes, please.
1919: Madame C.J. Walker (Sarah Breedlove) Becomes the First Self-made Woman Millionaire in America
Sarah Breedlove was a black entrepreneur who was born to freed slaves and invented and sold hair-care products for women. Known as Madame C.J. Walker, this original girl boss made history as the first self-made woman millionaire in the United States. (Yas.) We like to picture her mixing potions and counting stacks, proving that a woman with a vision (and killer hair products) can make history. 💅💰
The 1960s: Women can open bank accounts
The 1960s was the era when women said, "Guess what? We can open our damn bank accounts." 👛 No more waiting for a man's approval – suddenly, they could cash their own checks, make their own moves, and basically handle their business without a dude signing off. It was the OG "I don't need a man to handle my money" vibe, and women everywhere began flexing their financial independence.
1963: THE EQUAL PAY ACT PASSES
The Equal Pay Act slid into the scene in 1963 like, "Hey, let's level the freaking paycheck playing field." It was the first move made to banish the gender pay gap and make sure women got the moolah they deserved. Suddenly, the workplace was like, "Equal work, equal pay, duh!" – a game-changer for women in the professional arena. 💸✊ The Equal Pay Act wasn't just a piece of legislation; it was an anthem for working women, setting the stage for women to demand their coins with no apologies.
1974: EQUAL CREDIT OPPORTUNITY ACT
The Equal Credit Opportunity Act was the ultimate flex against credit discrimination. This game-changer made sure banks couldn't pull that "Sorry, you're a woman" card when a woman applied for a credit card or a loan. This gave women more financial freedom, without the sexist fine print. 💳
1988: The Women’s Business Ownership Act
In 1988, the Women's Business Ownership Act was like, "Hello, glass ceiling, meet my wrecking ball." This legislation was a power move, giving women the keys to the business kingdom by knocking down barriers and promoting female entrepreneurship. 👑 It was basically the government saying, "You go, girl!" and paving the way for women to own businesses, get loans, and dominate the corporate game.
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