Three leading Perth business organisations have joined forces to launch a Financial Toolbox aimed at giving women greater financial knowledge and confidence.
The announcement comes following the release of startling statistics showing WA women have barely more than half the superannuation savings of men, 60% of WA women retire with zero superannuation, women earn 25 per cent less than men and many WA women still lack financial confidence and skills to invest.1
The American Chamber of Commerce, Chartered Accountants Australia and New Zealand and Australian Institute of Company Directors will present the Financial Toolbox series of interactive workshops tailored for women of all ages.
The aim of the workshops is to equip women with financial knowledge and skills to enable them to be independent and have freedom of choice throughout their lives.
“There are many things women of any age can do to improve their financial position - it’s really never too early or too late to learn,” said Chartered Accountants WA Regional Council Chair Professor Glenda Scully.
“If you know how to set a budget with clear goals, prepare for taxes, superannuation and insurances - you can put yourself in a far better position and manage your finances with more confidence and greater success.”
AmCham Women in Leadership Committee Chair Professor Lyn Beazley said “The disparity in wealth between genders limits women’s life choices and makes many women in violent or abusive relationships financially vulnerable. This is a terrible position for anyone to be in, and we want to do something to change this."
“We also know that homelessness in older women has grown to epidemic proportions in recent years. Between 2011/12 and 14/15 the number of 55+ women accessing homelessness services increased by 30 per cent."
“This is happening because many women in their 50s and 60s spent years in non-paid work and now have far lower superannuation savings, lower home ownership, lower personal wealth and lower financial confidence."
"Even for those of us lucky enough to be in much happier circumstances, having a better understanding of our finances is of great benefit. It could mean a more secure future including the opportunity to give more back to the community," Professor Beazley said.
AICD WA Division Councillor Jane Cutler said “Between our three organisations we have access to some of the most expert and most generous financial and business professionals in the State.”
“We feel this is a vital opportunity for us to come together and use our strengths and expertise to help improve financial literacy for women across Western Australia.”
The Financial Toolbox series will include six enjoyable, dynamic and interactive workshops, facilitated by some of Perth’s leading financial experts.
The six workshops will include:
Part 1 Build Yourself Up
1. Budgeting and forecasting (July 2016)
2. Saving with Superannuation (September 2016)
3. Get to know your taxes (November 2016)
Part 2 Protect Yourself
4. Insurance (February 2017)
5. Wills (March 2017)
6. Life events (May 2017)
The Financial Toolbox series was launched at Parmelia Hilton Perth today at a breakfast with WA business doyen and Diane Smith Gander, Broadspectrum Chairman, who also spoke about how WA companies could respond to the evolving economy.
The workshops will be held centrally at the CAANZ and AICD training rooms in the city from 5.30-7.30pm, with a small fee to cover drinks and nibbles. All presenters are donating their time.
To book any of the sessions go to website http://events.amcham.com.au/financialtoolbox/