Across Canada, women continue to face significant hurdles in achieving financial literacy—and these challenges can have lifelong repercussions. Our recent Intuit Financial Literacy Survey revealed that more than half (55 per cent) of women feel uncertain about where to begin their financial journey, compared to just 49 per cent of men. This lack of confidence often translates into struggles with saving for retirement, reducing debt, and managing everyday expenses. For many women, financial insecurity can significantly impact their lives; it shapes their life choices, limits their opportunities, and fuels stress.
To address these challenges, Monday Girl and Intuit Canada brought together a diverse group of leaders and advocates determined to make a difference at Intuit’s Toronto office for FinLit & Yap, an evening of candid financial conversations. Moderated by Rachel Wong, Co-Founder of Monday Girl, the panel featured Kyla Bolden, Stefanie Ricchio, and Anna Sinclair, who shared their expertise, personal experiences, and practical strategies for building financial confidence to break down barriers that hold women back.
Confidence is the foundation
Opening the conversation, Rachel Wong pointed to the pressing reality many women face: “A lot of women lack confidence when it comes to managing their finances, and that lack of confidence impacts everything from career decisions to everyday choices.” This uncertainty isn’t a minor issue; it’s one that ripples through personal and professional lives, creating a cycle that is difficult to break without targeted support.
Lean on your community
Anna Sinclair, founder and CEO of Total Mom Inc., highlighted the emotional and mental strain financial challenges place on women, particularly those juggling professional ambitions and family responsibilities. “Being both a mom and an entrepreneur is like trying to run two marathons at the same time,” Sinclair said. She emphasized that community support and shared experiences can be game-changing. “Women need networks that lift each other up—mentorship, advice, practical tips. It’s not just a nice-to-have, it’s essential.”
Technology as a tool for change
For Stefanie Ricchio, a CPA and financial consultant, the key to empowering women to take control of their finances lies in simplifying financial processes through technology. “Automation isn’t just about making life easier; it’s about taking away some of the anxiety around managing finances,” she explained. Ricchio cited tools like QuickBooks as examples of digital solutions that can give women greater control over their business and personal finances. “We need to make financial literacy as accessible as possible.”
Teaching financial skills early
Intuit’s survey data found that a quarter of Gen Z’s biggest financial lessons aren’t coming from formal education – 26 per cent are self-taught, and most of lessons come from their families and friends (29 per cent). Kyla Bolden, founder of Wiz Kid Learning, an expert-designed program preparing young minds for the future, stressed the importance of starting financial education at a young age. “We’re not just teaching kids to count dollars; we’re teaching them to navigate life’s most important decisions,” Bolden said. Her platform aims to equip children and young adults with financial literacy skills that empower them to make informed choices. “It’s about breaking cycles of inequality and giving future generations the tools they need to thrive.”
Real-world challenges, real solutions
Throughout the discussion, panelists shared personal stories that illustrated the tangible impact of financial literacy—or the lack thereof. Wong pointed to a survey finding that “61 per cent of women reported feeling financial stress in just the last month.” The conversation underscored that stress related to money isn’t just about budgets; it’s about mental and physical well-being, confidence, and future security. “Stress doesn’t just disappear when you close a spreadsheet,” Ricchio noted. “It follows you into your day-to-day life.”
Building a path forward
The panel concluded with Rachel Wong calling for continued conversations and collective action; “Financial literacy isn’t a one-time event—it’s an ongoing journey, and we need to keep advocating for change.” Each panelist also shared actionable strategies for women seeking to take control of their financial future:
- Start small: “Don’t try to become an expert overnight,” Sinclair advised. “Start with what you can manage and build on it.”
- Leverage technology: Ricchio highlighted the importance of digital tools: “Simplifying even one aspect of your financial life can reduce stress and give you more room to grow.”
- Find your network: “Having a community to turn to makes all the difference,” Bolden reminded attendees. “You don’t have to navigate these challenges alone.”