What’s the Power of Giving?

By Sallie Krawcheck

It’s getting to that time of year: when we count our blessings and we focus on giving. So lately, I’ve been thinking a lot about the power of giving — how it can make us not only feel better, but happier, teaches children generosity and open-handedness, and has a measurable ripple effect on our communities.

In fact, this “ripple effect” may actually be more like a tsunami when we look at what giving, especially among women, looks like in real life.

We know that on average, women are more likely to give more, more often than men. And when women philanthropists give, they’re more likely than men to donate to women and girls. Why? Gender inequality combined with knowing that one will get a higher “return on investment” by supporting women’s rights. We can go ahead and file that under: accurate.

It makes sense, then, that in an unimaginable-anxiety-ridden year for women+, it’s women stepping up and leading a boom in charitable giving toward gender equality. And it's no coincidence this coincides with women now controlling more wealth than ever before — about one-third of household financial assets in the US ($10 trillion).

That’s why our mission will always be to get more money — and thus power — in the hands of women. And it’s why we built Ellevest.

I’ve also been thinking a lot lately about the powerful ways we can create our own personal ripple effect by shopping women-owned businesses, practicing intentional spending, and budgeting for donations. Also, and maybe this is more urgent than ever, advocating for and mentoring other women might be one of the most powerful ways to give back as we head into 2022.

Getting more money into the hands of women is the bionic ripple effect. Economies grow, societies thrive, everyone is better off.

Sallie Krawcheck Signature

PS: Just in time for Giving Tuesday (and the holidays)! We created this members-only worksheet to help you more intentionally set and track progress toward your charitable giving budget.


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Sallie Krawcheck

Sallie Krawcheck is the Founder & CEO of Ellevest.