More pink tax and a "feminist" approach to cancer. 👀
Welcome to The Leak💦 — Peanut's newsletter-shaped bestie, where we share women's news stories and expert advice that are too crucial to keep secret. This month, we're talking all things finance. Sexy, we know. 🤷♀️
💅 On Wednesdays We Wear Pink… Tax?
The “pink tax” is the price disparity on products marketed differently to men and women — from razors and lotions to dry cleaning. Turns out, the same thing that makes your deodorant 9% more expensive than your brother’s, is causing women in the US to spend $15 billion more per year, than men on out-of-pocket medical expenses. And that’s excluding pregnancy-related costs. It turns out that while employers have to offer insurance premiums at equal costs to women and men, premiums are only part of the financial picture, and out-of-pocket costs are far from equitable. But there is hope: this study has highlighted that healthcare insurers and employers have an opportunity to reduce the financial burden placed on women, at a relatively low cost. Around $133 per employee annually, to be specific. Sounds like a bargain for equitable health and well-being. 🤷♀️
P.S. While the UK’s National Health Service makes gender disparities less obvious, they are very much still there. For example, women are disproportionately affected by cuts to healthcare spending, and getting less medical bang for your buck sounds like a pink tax to .
While sexism is charging us more for our healthcare, it’s also negatively impacting our health outcomes. According to this study, gender inequality and discrimination are reducing women’s opportunities to avoid cancer risks and impeding their ability to get a timely diagnosis and quality care. The largest report of its kind, which studied women and cancer in 185 countries, found unequal power dynamics across society were having “resounding negative impacts” on how women experience cancer prevention and treatment. How do we combat this? Well, healthcare experts are calling for a “feminist approach” to cancer. Because as long as patriarchy dominates cancer care, research and policy making, women won’t be in the positions of power that decide what is prioritised, funded, and studied. For gender equality in health outcomes, we need that equality to run all the way up the chain. 🚑
🤑 Menopause Money-Maker
Meno is the next big thing on the investment scene. The menopause market is largely untapped (thanks, ageism), making it a golden opportunity for start-upsand investors. With the potential to disrupt a $600 billion industry, we could see a lot more businesses jumping on the menopause bandwagon, so watch this space. And FYI, we did itbefore it was cool. 🥜
Welcome to Ask The Expert, where we talk to a real-life professional about the important stuff, to save you the hassle.
This month we asked money blogger and all-round finance expert, Laura, founder of Thrifty Londoner, for the best money tips she wishes she'd heard sooner.
1. Use ‘sinking funds’ to save up for big expenses...
Like 3rd birthday gifts, vacations, or your annual car insurance renewal. Some banks have a ‘pots’ feature, where you can separate your savings for different purposes and gradually save up for them over time — tools like this can help you feel more prepared for these big-budget hits to your bank account.
2. Check the interest rate on your savings...
Just a few extra percentage points can make a huge difference over the course of a year. For example, if you have $10,000 in life savings in an account offering 2% interest, you'll gain $200 interest over the course of a year. If it's in an account that offers 4.5% interest, you'll gain $450. There are some excellent Easy Access Savings Accounts out there, so do make the switch if you're not currently getting a good rate. So simple, but so important!
3. Build an ‘Emergency Fund’...
This is especially helpful in our current climate, where an unexpected expense could knock your finances off-course. You can gradually save up your Emergency Fund over time, so you'll have a pot of money available when you need it — for things like new tires for your car, a locksmith, or even replacing your boiler.
4. Check your pensions
Does your employer offer a matched pension scheme? If so, think about the positive impact this could have on your future finances — it's essentially an extra pay rise from your employer. It's also a good idea to track down all of your pensions and keep any documentation in one place, so you have it for future reference. You could also consider combining your pensions to make them easier to track. Future You will thank you!
We asked our community...
Unsurprisingly, two-thirds grew up without having these important conversations. 💸 All things cost-of-living considered though, we were glad to find that 40% of our Peanut Community felt financially secure… but what about the other 60%? We thought we’d better add our money expert to the chat. 👀
Laura says: Learning about saving and investing growing up is largely down to whether your caregivers spoke to you about saving and investing, or not. Personal finance topics weren't taught at school in the 90s and 00s. If you didn't learn about finances from your caregivers, you likely had to figure it out by yourself once you left home. Thankfully, there's now a wealth of information available online, but since financial habits are developed from the age of 7 (!), it can be challenging to change them as an adult.
How we're distracting ourselves from daily life this month...
📚 Cults Like Heaven's Gate and... SoulCycle?
A book about the linguistic techniques of cults might not be the usual vacation read, but I inhaled this book on my recent trip. Cultish by Amanda Montell is a genius, darkly funny look at the ways 'cultish groups' grip followers, defining “us” and “them” in ways only true followers could understand. A must-read for anyone prone to binging cult documentaries, or, really, anyone else. — Phoebe🥜
🍿 Channel 4 vs. Russell Brand
TW: Allegations of sexual abuse. As a millennial who grew up in the Russell Brand age, this one hit hard. Sure, he’s never been my cup of tea, but the Russell Brand: In Plain Sight: Dispatches exposé (and subsequent police investigation and media coverage) have certainly sparked some interesting conversations with friends and family. Do I think Channel 4 offered a skewed bias, focusing on the BBC’s enabling of Russell’s alleged behavior and not their own? Yes. Do I think there’s more to the story? Definitely. Could this be the start of more allegations by other similar personalities? I guess time will tell. — Tassia 🥜
🎧 Maybe the Best Podcast Drama Ever?
To me, "podcast" usually means relaxed co-hosts and informal chit-chats, but Case 63 is giving pure drama excellence. It's back for a second season, and, honestly, it couldn’t come sooner, because I’ve been pining for Julianne Moore and Oscar Isaacs' seeerious vibes. — Dani 🥜
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Tell us what you want to see next time and leave your questions for our experts 👀
This edition of The Leak was brought to you by Hannah Hastings, Henry Gibbons, Keshia Sophia Roelofs, Lucia Schiaffino Martinez, Phoebe Corcoran, and Tassia Agatowski, with special thanks to our good friend, coffee🫶
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