The Hidden Link Between Financial Literacy And Women’s Leadership

Financial literacy isn’t just about numbers: It’s about empowerment, collaboration, and opening pathways to leadership.

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In today’s world, women are stepping into leadership roles at historic rates, yet systemic barriers remain. According to McKinsey’s 2023 Women in the Workplace report, for every 100 men promoted to manager, only 87 women are promoted, and the gap is even wider for women of color. Progress has been steady over the last decade, but at the current rate, gender parity in senior leadership is still decades away. The irony is that women now make up nearly half the global workforce, yet their representation at the top continues to lag.

One often overlooked accelerator for leadership advancement is financial confidence. Research consistently shows that women who gain control over financial decisions are significantly more likely to step into leadership roles at work and in their communities. The OECD’s gender equality in education, employment, and entrepreneurship report reinforces this: women who demonstrate financial acumen not only strengthen their own security but also contribute to stronger business outcomes. Financial literacy, then, is not just a personal skill. It is a leadership pipeline issue.

Beth Mach, a global marketing executive and COO of Spacely, explains, “Financial independence is like flipping on a light switch. It doesn’t solve everything, but it helps reduce the anxiety of survival. Once that fear is lifted, you can make decisions with clarity, take risks, and lead with conviction.”

This connection between financial literacy and leadership is exactly what drives the work of Emilia Bolda, founder of Investiere.Dich.Frei (translation: Invest. Yourself. Free.).

Bolda’s journey, from fleeing Azerbaijan as a child and resettling in Germany with no money or language, to becoming a teacher and financial mentor, illustrates how mastering money is not only about stability. It is about unlocking trust, courage, and the capacity to lead.

A Childhood of Displacement Sparked a Mission of Independence

Bolda’s childhood was marked by displacement. At six years old, her Armenian family fled Azerbaijan amid conflict, arriving in Germany with almost nothing. She remembers sitting in her first classroom there, unable to understand a single word but determined to learn. That early experience of vulnerability shaped her resilience and fueled a lifelong belief that skills, especially financial skills, could be the difference between survival and self-determination.

Later, as a teacher, Bolda noticed that many women were caught in cycles of dependency. A divorce, job loss, or crisis could wipe out their stability. She saw friends and colleagues struggle with finances, not because they lacked intelligence, but because they lacked confidence and access to the right tools. Teaching had taught her how to break down complex topics and adapt them to different learning styles. When she turned that skill toward finance, she realized she could not only help women gain stability, but also help them grow into leaders.

How Trust Unlocks Courage and Courage Builds Leaders

Bolda’s philosophy is rooted in trust. “Confidence doesn’t come from perfection,” she explains. “It comes from the deep feeling that someone believes in me, even when I don’t believe in myself yet.”

Through her financial academy, thousands of women have learned how to invest, gain independence, and lead. One client who once said she was “just not good with money” eventually stood before a group, explaining her investments with clarity and pride. For Bolda, this wasn’t just about finances. It was about watching a leader emerge.

Another client story illustrates the ripple effect. A mother of two who had always deferred financial decisions to her spouse began taking small steps, reviewing budgets, making savings goals, then investing modestly. Within a year, she was not only managing her household finances with confidence but also applying for a leadership role at work. Her success became an inspiration to her daughters, showing them that financial courage translates into life courage.

Mach has witnessed the same dynamic in corporate settings. She shares, “I’ve seen people step into leadership the same way you climb a staircase; one planned step that builds on the next. Early in my career, I had a team member who wasn’t sure she was ‘ready’ to lead. We started with micro-moments: having her run a meeting, then present to a client, then work through a new hire. Each step built her muscle. In just over a year, she was leading the department.”

The experiences of Bolda and Mach reflect broader data. Deloitte’s Women @ Work 2024 survey shows that half of women report rising stress, and two-thirds do not feel comfortable discussing mental health at work. The findings echo Bolda’s work, showing that when women are supported with trust, they gain the courage to grow and lead.

From Finance to Leadership Skills

Financial literacy builds the same muscles leaders need: presence, decision-making, and courage. Research from Harvard Business Review and the Center for Creative Leadership highlights vulnerability, presence, and courage as core predictors of effective leadership. These are precisely the capacities Bolda helps women cultivate as they move from tentative financial choices to decisive leadership actions.

Bolda frames financial growth in five everyday leadership habits:

1. Active Presence – Listening deeply and creating space before responding.
2. Shared Vulnerability – Admitting mistakes so others feel safe to take risks.
3. Decision-Making Through Small Wins – Building courage step by step.
4. Using Expertise to Guide Strategy – Grounding choices in domain knowledge.
5. Courage as a Habit – Regularly stepping beyond one’s comfort zone

In practice, these habits create a ripple effect in organizations. For example, women who gain confidence in making financial decisions at home often begin to speak up more in budget meetings at work. Leaders who learn to admit mistakes in financial coaching sessions bring that same vulnerability into team conversations, creating cultures of openness and trust.

Why Real Empowerment Means Walking Beside, Not Stepping Away

Some leaders mistake empowerment for absence. Bolda pushes back: “Letting people go with a ‘you will figure it out’ is not leadership. True empowerment is walking through the hard phases together, not just celebrating the wins.”

Her perspective aligns with Gallup’s State of the Global Workplace 2023, which found that engagement is highest when employees have both autonomy and regular feedback. Mach reinforces this point: “Confidence is rarely built in a single leap. It grows step by step, with support and accountability.”

Joyce Palmer, founder of JP Financial Group in Charlotte, North Carolina, sees the same truth play out with her clients. As she explained to WCNC Charlotte, “It’s not just the money, it’s also the peace of mind. It’s also about setting up your family, being able to know that you can leave something for your children.”

From Coaching Rooms to Global Stages

What began as individual coaching has grown into a movement. Bolda’s academy now offers programs like Blockchain Ladies and SheTrades, combining financial literacy with leadership pathways. These programs bridge two critical gaps: helping women engage with emerging financial tools like blockchain, while also connecting them to global trade opportunities.

Later this year, Bolda will host the Investiere.Dich.Frei Summit in Düsseldorf, bringing together experts, investors, and aspiring leaders to accelerate women’s financial independence on a global stage. The summit will focus not only on technical skills, but also on building the networks, mentorship, and courage that women need to lead.

As Beth Mach underscores, “Confidence doesn’t come in a single leap—it’s built step by step, with support and accountability.” This insight captures the very heart of Bolda’s mission: to create the solid ground where women can take those steps, grow in confidence, and lead boldly. To help women stop asking “Can I?” and instead begin asking “How do I?”

Financial literacy is more than an economic skill. It is the hidden link powering the next generation of women leaders. And as research, case studies, and countless stories show, the future of leadership will be built not just on strategy or vision, but on the everyday courage women unlock when they take control of their financial destiny.