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Checking vs Savings Accounts: What Are the Biggest Differences?
A Beginner's Guide to Using a Credit Card
31 Financial Role Models to Honor This Women's History Month
SoFi Disclaimer
National Credit Card Fraud Survey
National Auto Lending Study
Brian O'Connell
There's no doubt that Americans rely on banks to better manage their savings. In fact, the average American household has $175,510 worth of savings in bank accounts and retirement savings accounts, according to our recent analysis.
The primary bank account vehicles for consumers are checking and savings accounts. Both give financial consumers a protective place to park their money, yet each are best used for different purposes.
While there are multiple differences between the two types of consumer bank accounts, the primary difference between checking vs savings accounts can be found in the way each account is structured.
Checking vs. savings accounts: Key differences
The differences between checking and savings accounts go deeper than basic saving and spending. Via the chart below, let's take a deep dive on both types of bank accounts and examine what each does effectively, and how they vary from one another.
Best used for Cash you want to keep safe but still take advantage of higher interest rates; Short-term expenses Daily spending needs
Minimum balance requirement Usually no minimum required for basic savings accounts. Basic checking accounts rarely require a minimum deposit amount, but may charge a maintenance fee if you don't keep a certain amount in your account.
Interest 1.52% APY average for online banks 0.19% APY on average overall
Typical fees -Excessive withdrawal fee
-Overdraft fee
-Monthly maintenance fee
Withdrawal limits Limited to six withdrawals per month or you an risk excessive withdrawal fee No limits on numbers of transactions per month typically
Let's flesh out the similarities and the major differences between checking and savings accounts, using the primary chart topics listed above:
Usage. Bank savings and checking accounts exist for different reasons.
Savings accounts are designed to save money over a long period of time, enhanced by interest paid to the customer by banks and credit unions, for the right to have their money held on deposit. Savings accounts are not designed to be used on a daily basis – they're accounts built for the long haul.
Checking accounts are designed for everyday usage, to pay bills, to spend on household needs like food, clothing, day care or any consumer financial expenses the checking account holder must cover. The checking account acts as a financial intermediary for the consumer, who uses the account to handle financial transactions and to both receive and disburse money.
Minimum balances. Savings and checking accounts differ in minimum balance requirements. While most bank checking accounts don't require a minimum balance, and most banks don't require a minimum deposit for basic deposit savings account, certificates of deposit and money market accounts are a different story. For example, some money market accounts may require a minimum deposit of up to $2,500 to open an account.
Interest payments. Banks can pay interest for both savings and checking accounts, but typically savings accounts earn higher rates. In early 2019, for example, the average bank checking account pays up to 0.81%, according to the U.S. Federal Deposit Insurance Corporation (FDIC) . It's worth noting that many banks don't pay interest on checking accounts anymore, but online banks are more likely to do so.
Meanwhile, the average bank savings account pays up to 0.84%, according to the FDIC. You can easily get rates above 2% APY if you're willing to check out online bank offerings.
Typical fees. The "fee factor" between saving and checking accounts matters, too.
By and large, banks don't charge high fees for basic savings deposit accounts – they can expect to pay a nominal account opening fee of $25 and a monthly maintenance fee of around $5. Also, banks may charge account minimum fees for money market and CD accounts. Many banks are actually doing away with basic savings accounts fees — check with your financial institution and see if they charge a savings account fee. If they do so, ask them how you can waive the fee – they'll likely have options for you to do so.
Checking account fees can really stack up, however. In the normal course of business, checking account maintenance fees, minimum balance fees, overdraft fees, return deposit fees, ATM fees and paper statement fees can eliminate any gains your making from the nominal interest rate paid out by banks.
It's always a good idea to talk to your bank directly about eliminating checking account fees, too. For example, agreeing to overdraft protection can help you curb pricey overdraft fees and agreeing to have your monthly statement presented online can eliminate paper statement fees.
Online bill pay. Bank checking accounts now consider online bill pay as a basic service for checking account customers, including mobile bill pay options. Bank savings accounts, which don't want you dipping into account savings, don't offer online bill payment for customers, although customers with a savings account can transfer funds into a checking account to cover bills.
Types of savings accounts
Savings accounts are designed specifically to do what their names suggests – save money. The amount of money saved depends on the customer, but a bank savings consumer can choose from three main types of saving account options:
A standard savings account is a type of deposit account that offers a higher interest rate thank a checking account typically.The standard limitation with savings is that you are limited to six withdrawals or transfers per month, or risk getting hit with fees.
CDs are savings vehicles designed to hold money for a longer period of time than traditional savings accounts, and frequently pay higher interest than deposit accounts. But they require you to typically lock up your funds for set periods of time and often charge penalties if you withdraw the funds before the term is up.
Lastly, money market accounts pay consumers the highest interest rates, and require a significantly higher initial account deposit than with other deposit accounts.
Types of checking accounts
Checking accounts are designed for an alternative, yet equally important purpose — to act as a financial tool to manage daily living expenses, like bill-paying, grocery shopping, recreational spending and other consumer financial needs.
As opposed to savings accounts, which are built for the long haul, checking accounts are designed to be used on a regular basis.
Checking vs. savings: How to choose
While bank checking accounts and savings accounts do have differences, especially on spending versus saving money, the best approach is to open both accounts with your financial institution.
Aside from saving money on fees (banks routinely cut some fees if you have active checking and savings accounts with them), you can transfer money between the two accounts, have a designated account for spending and a dedicated account for savings at the same financial institution, and tie your basic spending and savings needs into one neat bundle.
That's a win-win scenario for any bank consumer.
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Alexandria White
Are you thinking about opening a credit card account? Or have you recently opened an account? You may feel like a novice, but worry not — we've compiled a guide to help walk you through the most common credit card terms. You'll also find advice on how to be a responsible credit card user.
Here are some of the things we'll discuss:
How credit cards work
Typical credit card terms
Other common credit card features
Choose a card that fits your needs
Practice responsible credit behavior
Credit cards are lines of credit that can be used continuously as you pay off your balance. They're a handy way to pay for items of all kinds, and can help you build credit when used responsibly. Credit cards usually have detailed terms and conditions that list fees, rewards, benefit restrictions and more. Here are the important ones you should know
Annual fee: This is the fee you will be charged each year — if your card has a fee. Plenty of credit cards come with no annual fee, and you might prefer to stick with a no-fee card.
Credit limit: The maximum amount of credit you can charge on your card.
APR: This is the annual percentage rate or, simply, the interest rate you will be charged on balances carried. The rate is annual, so divide it by 12 to get your monthly rate. Most often, this rate is variable and fluctuates with the prime rate, so your APR may change at any time.
Cash advance APR: If you use your card to take out cash, you'll be charged at a higher interest rate than for regular purchases.
Penalty APR: This is a higher APR than you are typically charged, and is often the result of a late or returned payment. The penalty APR can be in effect for several months or indefinitely, depending on the issuer.
Intro 0% period: You may be fortunate enough to have a credit card that offers an introductory period during which you can carry a balance that doesn't accrue interest. The terms for these intro periods vary.
Late payment fee: If you pay late, you will incur a fee that is typically greater than $30.
Returned payment fee: Payments you submit that aren't approved may be subject to a fee, usually $30 or more.
Foreign transaction fee: Some cards charge a fee for purchases made outside of the U.S., which is typically around 3%.
Cash advance fee: If you take out a cash advance, you will likely will be charged a 3% to 5% fee.
Balance transfer fee: Any balances you transfer from an existing credit card to an eligible new card may be subject to a balance transfer fee, on average 3% to 5% of the amount transferred.
Sign-up bonus: Your card may offer a sign-up bonus, which typically requires you to spend a certain amount within a given time period (usually three months).
Rewards: Many credit cards offer rewards programs that allow you to earn cash back, airline miles or points for purchases. This can be a great way to be rewarded for your spending, but don't overspend and risk falling into debt simply for the sake of earning rewards.
Alerts: Issuers often let you set up fraud or balance limit alerts and reminders when it's time for a payment.
Autopay: You can set this up with your credit card issuer so you are sure to avoid late or missed payments.
There are numerous credit cards available for a wide range of needs, from building credit to earning rewards, to getting out of debt and more. You should decide what your goal is with a credit card, then compare cards from various issuers prior to applying. Some issuers allow you to fill out a prequalification form that does a soft pull on your credit. This doesn't affect your credit score and is a great way to shop around for the best deals. One note: Prequalification is not a guarantee of approval.
Read our list of the best credit cards in a variety of categories to find a card for your needs.
An important step prior to applying for a credit card is to review the cardmember agreement. Each card has different rates and fees that vary based on any number of reasons, including credit history, actions you take (or don't take), the prime rate in the market and more. It's crucial to review the cardmember agreement so you're aware of any fees you may be charged, as well as how the card works.
Make on-time payments. Perhaps the most important aspect of having a credit card is to make timely payments. By doing so, you avoid late payment fees and penalty APRs that can hurt your credit score.
Pay your balance in full. A great goal is to always pay your bill in full so you never carry a balance. Any unpaid balance will be charged interest (unless associated with a 0% APR promotion) and can cause you to rack up debt. This also negatively affects your credit score.
Avoid overspending. It's common for people to mismanage their credit cards and be tempted to overspend, but with proper budgeting, you can avoid falling into debt. A good rule of thumb is to only spend what you can afford to pay at the time of purchase — this way you know you can pay off your balance.
Keep a low utilization rate. The percentage of available credit you use is known as utilization, and is a factor in your credit score. It's important to keep a low utilization rate so issuers see you're not a risk — ideally no higher than 30%, but the lower the rate, the better. Constantly maxing out your card raises concerns for issuers and can cause you to fall into debt.
Check your monthly statements. By simply reviewing your monthly statements, you can proactively notice any fraud that may occur on your account and isn't flagged by your credit card company. Most companies send notifications if they think there's fraud on your account, but they don't catch every instance of suspicious behavior.
You can also choose to use a service to monitor your credit. MagnifyMoney's parent company, LendingTree, offers this service for free. There are several other places now where you can check your credit score for free, across all three major bureaus.
Check your credit score and credit report. Checking your credit score on a monthly basis is a good habit to get into and can promote positive credit behavior. Read our guide on where to access your free credit score and other credit tips. It's also a good idea to check your credit report every few months to make sure everything checks out and no unknown accounts are opened in your name. Annualcreditreport.com is the only source for authorized credit reports from all three major credit bureaus, and you can run one report annually for each bureau. We recommend spacing them out every four months.
Secure your card. Don't leave your card unattended or loan it to friends. Your card is your responsibility and should be treated with care. If you happen to lose your card or it's stolen, contact your issuer immediately and put a hold on your account until your card is found or replaced.
Don't request a cash advance. Cash advances are notorious for high fees and tricky terms that can draw you into debt, so it's best to avoid them entirely. If you need cash, look to personal loans, which may have better terms.
Having a credit card can be a great way to build a credit history, as long as you use it responsibly. Understanding all the terms, as well as your cardmember agreement, is crucial to being a responsible cardholder. Refer to this guide before signing up for your first credit card, or if you have any questions about your current credit card account. Your wallet — and credit score — will thank you.
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Jamie Friedlander
From the first female millionaire to the only female Nobel Prize winner in economics, this Women's History Month we're honoring 31 women who have shaped today's business world. Read on to learn about building your net worth, thriving in your career and carving your own financial path from the brightest, boldest and most innovative women who have influenced finance, economics and policy.
1. Henrietta "Hetty" Green
2. Janet Yellen
3. Millicent Garrett Fawcett
4. Abigail Adams
5. Harriet Martineau
6. Elinor Ostrom
7. Madam C. J. Walker
8. Carla Harris
9. Abigail Johnson
10. Ho Ching
11. Stacey Cunningham
12. Adena Friedman
13. Anne Finucane
14. Christina Romer
15. Rania Nashar
16. Helena Morrissey
17. Thasunda Brown Duckett
18. Mary Paley Marshall
19. Francine Blau
20. Edith Abbott
21. Anna Schwartz
22. Deirdre McCloskey
23. Dambisa Moyo
24. Joan Robinson
25. Janice Bryant Howroyd
26. Angela Merkel
27. Marianne Lake
28. Mary L. Schapiro
29. Maggie Lena Walker
30. Muriel Siebert
31. Claudia Goldin
Born in 1834, Henrietta "Hetty" Green was one of the nation's first value investors. Though Green came from a wealthy family that made most of its money in the whaling industry, her financial savvy turned her into an investing powerhouse. Case in point: When her father gave her beautiful dresses to attract a rich suiter, she instead sold the clothing and used the proceeds to invest in government bonds.
When Green died in 1916, she had amassed a fortune of more than $2 billion in today's dollars and was considered the wealthiest woman in America. Known for her miserly ways and the black mourning clothes she adopted after the death of her husband, Green was commonly referred to as the "Witch of Wall Street."
Janet Yellen was the first woman to be chair of the Board of Governors for the U.S. Federal Reserve, a position she held from 2014 to 2018. By and large, Yellen has been lauded for her performance as the fed chair, overseeing the economy during a period of low unemployment, record stock prices and low inflation. When she left office, 60% of economists surveyed by The Wall Street Journal gave her an "A" rating, while 30% gave her a "B."
Yellen received her bachelor's degree in economics from Brown University before going on to receive a Ph.D in economics from Yale University. She is a professor emeritus at the University of California at Berkeley.
A major player in the women's suffrage movement in the 1800s, Millicent Garrett Fawcett was well-known for her political activism, dedication to promoting women's rights and keen understanding of economics.
Born in 1847, Fawcett penned many books, including "Political Economy for Beginners," a short book published in 1870 that broke down economics so it was easy to understand. Numerous iterations of the book were published over the course of 41 years. Academics believe Fawcett's contribution to today's understanding of economics has been largely overlooked.
Although Abigail Adams was primarily known as the wife of founding father John Adams, she was noteworthy in her own right for fighting for financial independence during a time when doing so was largely unheard of for married women.
Not only did Adams manage the family's household finances, but she also traded bonds and proved to have a sharp acumen for investing. Letters to her husband showed she also spoke out about laws that prohibited women's rights, including the fact that married women couldn't own property. Over the course of her life, Adams prudently invested her own "pocket" money and accrued quite the fortune, which she left primarily to women in her will.
Often referred to as the first female sociologist, Harriet Martineau wrote many books, including "Illustrations of Political Economy." This book explored political economic theories (such as labor strikes and overpopulation) through easy-to-digest illustrations that made the concepts accessible to the layperson.
Born in 1802, Martineau was known for her sharp intellect when it came to politics and economics. She wrote extensively over the course of her 74-year life, with 50 books and countless articles and essays to her name.
Elinor Ostrom is well-known for being the only woman to ever receive a Nobel Prize in economics. A political economist, Ostrom received a Ph.D in political science from the University of California, Los Angeles before becoming faculty at Indiana University in Bloomington, Ind.
Ostrom received a Nobel Prize in Economic Sciences in 2009 for debunking the long-held idea that natural resources, when used collectively, would be destroyed over time due to the self-interest of each individual. Through research, Ostrom proved that when communities shared natural resources, they often developed rules for caring for these resources, which in turn promoted economic sustainability.
Madam C. J. Walker — born as Sarah Breedlove — is one of the first self-made African-American female millionaires in the U.S. An entrepreneur, activist and philanthropist, Walker created her own hair care product line in 1904 for black women called Madam Walker's Wonderful Hair Grower. Walker's business exploded, and at the time of her death in 1919, her net worth was over $1 million.
Over the course of her career, Walker regularly advocated for black women by running sales training programs designed to help them achieve financial independence.
Carla Harris is the vice chairman of global wealth management and senior client advisor at Morgan Stanley. In 2013, former president Barack Obama appointed Harris to chair the National Women's Business Council (NWBC). Harris has a bachelor's degree in economics from Harvard University, as well as an MBA from the Harvard Business School.
In addition, Harris penned two business books, "Expect to Win: 10 Proven Strategies for Thriving in the Workplace" and, "Strategize to Win: The New Way to Start Out, Step Up, or Start Over in Your Career."
With a net worth of over $16 billion, Abigail Johnson is one of the richest women in the U.S. Johnson is the president and CEO of Fidelity Investments (a company her grandfather founded). She became CEO and president of the company in 2014, and was later named chairwoman in 2016.
Since taking the helm of Fidelity, Johnson has publicly stated that one of her primary goals is to hire more women.
Regularly included on lists of the most powerful women in the world, Ho Ching is the CEO of Temasek Holdings, an investment company in Singapore. During her 16-year reign there, she has given the company a global reach by shifting its focus beyond Singapore, growing the company's portfolio to more than $235 billion.
Ching is also active in public service and philanthropy. She was the chairman of the Singapore Institute of Standards & Industrial Research, the deputy chairman of the Productivity Standards Board and the deputy chairman of the Economic Development Board. She is also the founding Chairman of Trailblazer Foundation Limited, a charity dedicated to education, sports, health and community welfare. Her husband is Lee Hsien Loong, the prime minister of Singapore.
Stacey Cunningham is the first female president of the New York Stock Exchange (NYSE). She rose in the ranks to her current position, beginning as an intern at the NYSE in 1994 and later going on to be a clerk on the trading floor. At this time, she was one of only around 30 women at the NYSE, and was regularly referred to as "the girl" by her mostly male colleagues.
In 2015, Cunningham became the NYSE's chief operating officer and in 2018, she became the exchange's 67th president.
Adena Friedman is the president and CEO of the Nasdaq, a position she has held since 2017. This position makes her the first woman to ever lead a global exchange company.
Friedman has a long history with the Nasdaq, having been with the company on and off since 1993. Prior to serving as the president and CEO, she served as the president and COO from 2014 to 2016. Friedman also had a stint as the managing director and CFO of The Carlyle Group, a private equity company, and she is credited with helping the company go public.
Anne Finucane is the vice chairman at Bank of America and chairman of the board for Bank of America Merrill Lynch Europe. As part of her responsibilities, she oversees £30 billion in assets. Finucane established the Bank of America Institute for Women's Entrepreneurship at Cornell University, which offers free courses for female entrepreneurs taught by Cornell faculty.
The former chair of the Council of Economic Advisers (CEA), Christina Romer worked closely with former president Barack Obama from 2009 to 2010 to help guide the administration in the wake of the Great Recession. She is the second woman in history to hold this role.
Romer is currently a professor in the Department of Economics at the University of California, Berkeley. In addition, she is the former vice president of the American Economic Association (AEA).
Rania Nashar is the CEO of Samba Financial Group, the third largest bank in Saudi Arabia. Not only has she been the CEO since 2017, her role also made her the first woman to hold the position at a listed bank in the country. Prior to this position, Nashar had an extensive history at the company and was a board member for Samba Financial Group's global markets subsidiary.
Helena Morrissey is the head of personal investing for Legal & General Investment Management, an investment management firm in England. Prior to that, she served as the chief executive of Newton Investment Management.
Morrissey is well-regarded for creating the 30% Club a campaign that advocates for more gender balance on company boards and in senior management. She is also the author of, "A Good Time to Be a Girl: Don't Lean In, Change the System."
Thasunda Brown Duckett is the CEO of consumer banking at JPMorgan Chase. She is the first African-American to hold this position. Duckett helms the bank's consumer banking division, which includes wealth management. She oversees 47,000 employees across 5,300 branches. Prior to her current position, Duckett served as the CEO of Chase Auto Finance.
Duckett founded a charity, the Otis & Rosie Brown Foundation, which is named after her parents. The charity recognizes unsung heroes who are making a difference in their communities.
Economist Mary Paley Marshall was the first female economics lecturer at the University of Cambridge, a role she was given in 1875 at just 25 years old. In addition, she was one of the first women ever admitted to attend college at the University of Cambridge.
Marshall co-authored "The Economics of Industry" in 1879, a text that is widely considered one of the most influential in economics. Marshall spent the last two decades of her life helping create the Marshall Library of Economics in Cambridge.
Francine Blau is an economist and professor at Cornell University whose formative research on gender wage gaps in the U.S. has informed our country for decades. Blau has published over 100 articles, chapters and conference proceedings, as well as 10 books, including, "The Economics of Men, Women, and Work," a seminal work that explores gender issues in today's labor market.
In 2010, Blau was awarded the prestigious IZA Prize for her contributions to the field of labor economics.
Although primarily known for her pivotal role in establishing the field of social work, Edith Abbott also garnered recognition for her work in economics. In 1905, she received a Ph.D in economics from the University of Chicago and shortly thereafter, she completed a fellowship at the London School of Economics. In 1907, Abbott became a professor of economics at Wellesley College.
In 1935, Abbott helped draft the U.S. Social Security Act with Frances Perkins, the U.S. Secretary of Labor at the time.
An American economist, Anna Schwartz was best known for her work co-authoring the 1963 book, "A Monetary History of the United States, 1867-1960" with Milton Friedman. This influential text on economics dissected the cause of the Great Depression, attributing it to the U.S. Federal Reserve's policies.
In 1981, Schwartz became executive director for the U.S. Gold Commission. In 1993, the American Economic Association (AEA) named her a distinguished fellow.
Deirdre McCloskey is regarded by many as one of today's most influential economic minds. A distinguished professor of economics at the University of Illinois at Chicago, McCloskey has written more than 15 books and over 300 articles on economic theory and economic history, among other topics. Some of her most notable books include, "The Rhetoric of Economics" and "The Secret Sins of Economics."
McCloskey holds both undergraduate and graduate degrees in economics from Harvard University.
Originally from Zambia, Dambisa Moyo is a macroeconomist and author who previously worked as a banker at World Bank and Goldman Sachs. She has authored four New York Times best-selling books, including "Edge of Chaos: Why Democracy is Failing to Deliver Economic Growth — And How to Fix It," which came out last year.
Moyo originally studied chemistry as an undergraduate student at American University before going on to receive an MPA from Harvard University and a Ph.D in economics from Oxford University.
Joan Robinson was a British economist recognized for her important contributions to economic theory, in particular Keynesian economic theory. She came up with the theory of monopsony, which describes a market with only one buyer and many sellers, in her 1933 book, "The Economics of Imperfect Competition."
Robinson earned her degree in economics from the University of Cambridge, where she went on to work as a professor. She was the first female honorary fellow at King's College in Cambridge.
Janice Bryant Howroyd is the founder and CEO of ActOne Group employment agency, one of the largest minority- and woman-owned business enterprises (MWBE) in the country. Howroyd is known for being the first black woman to run a business valued close to $1 billion. The staffing agency has over 17,000 clients in 19 countries.
Howroyd started her business in 1978 in a small office in Beverly Hills, Calif. In 2018, she was listed as one of the wealthiest self-made women in the U.S. by Forbes, with a family net worth of over $350 million.
Angela Merkel is a powerhouse in the financial world, and no list of women who impacted finance would be complete without her. Merkel is often referred to as the "de facto leader of Europe."
The first woman to become chancellor of Germany, Merkel is No. 1 on the Forbes 2018 list of "Most Powerful Women in the World." She is regarded as the primary force that got Germany through a major financial crisis and back on its feet.
In the fall of 2018, Merkel announced that she would be stepping down as the chancellor of Germany in 2021.
Marianne Lake is the CFO of JPMorgan Chase, a position she has held since 2012. As CFO of the largest bank in the country, she oversees over $2.5 trillion in assets. Lake is well-known for improving automation technology at the bank. There has been significant speculation that Lake could one day replace Jamie Dimon as the bank's chairman and CEO.
Lake has shown a commitment to empowering women in finance through her role as a co-founder of the Women on the Move initiative, which aims to help women advance in their careers.
Mary L. Schapiro is the first woman to be permanent chair of the U.S. Securities and Exchange Commission (SEC). Schapiro served as a financial services regulator for four U.S. presidents: Ronald Reagan, George H.W. Bush, Bill Clinton and Barack Obama.
Schapiro also served as the chairman and CEO of the Financial Industry Regulatory Authority (FINRA) from 2006 to 2009, as well as the chair of the Commodity Futures Trading Commission (CFTC). Schapiro is the only person to have been chair of both the SEC and the CFTC. Currently, Schapiro is the vice chair for public policy and special advisor to the founder and chairman at Bloomberg LP.
Maggie Lena Walker was the first woman in the U.S. to charter a bank. Walker founded St. Luke's Penny Savings Bank, which later merged with two other banks in the U.S. to become The Consolidated Bank and Trust Company. (The Consolidated Bank and Trust Company was the oldest bank in the U.S. to have black-ownership status until it was acquired in 2005.)
Walker founded the bank in 1903 and served as the bank's president until her death. Throughout her life, she was well-regarded as an outspoken advocate for both women and members of the black community.
In 1967, Muriel Siebert became the first woman to have a seat on the NYSE. She was the only woman among 1,365 men. Often referred to as "The First Woman of Finance," Siebert founded and served as the president of Siebert Financial Corp., which made her the first woman to run one of the NYSE's firms. Siebert was also the first woman to hold the role of superintendent of banks for New York state, a position she held for five years.
Siebert was known for helping other women have a place on Wall Street. In fact, she donated millions of dollars to help other women start their own businesses.
In 1990, Claudia Goldin became the first woman to receive tenure at the Department of Economics at Harvard University. Goldin served as the director of development for the American Economy Program at the National Bureau of Economic Research (NBER) from 1989 to 2017. Her economic research spans many topics, including the female labor force, income inequality and the gender gap.
Goldin has written many books, including, "Understanding the Gender Gap: An Economic History of American Women" and, "Women Working Longer: Increased Employment at Older Ages," which was published in 2018.
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