We wish it wasn’t so, but the facts are that women in Australia are struggling when it comes to financial literacy.
While women are more empowered to engage in the modern economy and represent a growing segment of the workforce, unfortunately financial knowledge and wealth management skills are failing to follow suit, with less than half of women in Australia currently meeting financial literacy standards.
The bad news is this has a compound effect: In a recent report by HILDA, the Household, Income and Labour Dynamics in Australia Survey, low levels of financial literacy were found to in turn result in poor financial well-being, which down the line results in an increasing number of women retiring into poverty due to a combination of factors including low financial literacy and low super savings.
So it’s our mission, along with our amazing and finance-fit girledworld friends and partners, to continue to shine a light on financial literacy and the development of financial skills, so we can play a part in changing the money game for Australia’s women and girls.
