BROOKINGS — SDSU Extension will host a virtual financial education workshop to empower women to develop their spending and long-term plans.

“Women, on average, live longer than men, earn less than men and have gaps in their employment history. This impacts their retirement savings, Social Security benefits and long-term financial security,” said Lorna Saboe-Wounded Head, SDSU Extension family resource management field specialist. “Women who take on more of the childcare responsibilities may also face a reduction in income.”

“Money Talk for Women” will be online via Zoom from 6:30 to 8 p.m. each Tuesday from March 12 to April 9. Participants will complete assignments independently and meet once a week virtually with the group and facilitator.

During the five-week program, Saboe-Wounded Head will lead participants through discussions on financial basics, insurance, investing, retirement and planning for future life events. Guest speakers will also present information about specific topics during the sessions.

By the end of the program, Saboe-Wounded Head said participants will develop a spending plan that reflects their values and financial goals, examine current insurance policies to determine long-term risk management, develop investment goals, assess retirement investment needs, and investigate estate-planning options.

A 2021 National Financial Capability study by the Financial Industry Regulation Authority supports the need for continuous financial education. Americans increased their ability to save money and pay bills on time after the COVID-19 pandemic but saw decreased job and income stability. Financial knowledge impacts saving for emergencies and retirement and paying bills on time.

“Now, more than ever, women need to become financially empowered by learning strategies to manage their finances,” said Saboe-Wounded Head.

Registration for the workshop is $50, with a limited number of scholarships available. Participants will receive the book “Money Talk: A Financial Guide for Women.” To register, visit the SDSU Extension Events page and search “money.”

For more information, contact Saboe-Wounded Head at 605-782-3290 or email Lorna.WoundedHead@sdstate.edu.