A New Documentary Series Is Shedding Light On The State Of Women’s Financial Literacy

You’ve probably heard of the gender pay gap and know that older women are one of the fastest-growing groups of Australians experiencing homelessness, but just how badly are Aussie women faring when it comes to their finances?

The answer is… not great. A new documentary series and education program are shedding light on the sorry state of women’s finances – and helping them bolster their relationships with money, improve financial literacy, and future-proof their financial wellbeing.

Established by local not-for-profit organisation the Sydney Women’s Fund, Women’s Work follows extensive research that showed only half of all women in Sydney work in paid employment and, of those who are gainfully employed, almost half again earn $34,000 per year or less. Anyone who’s lived in Sydney knows the cost of living can be crippling at the best of times; more so if you’re renting, caring for a loved one, or raising kids.

The documentary series is available to view for free from today, International Women’s Day, with the ground-breaking community education program becoming available to grassroots charities, schools and corporate institutions thereafter, thanks to funds donated by philanthropic organisations and the public.

“Knowledge is power, and it is crucial that all women have access to the resources they need to take control and improve their own financial wellbeing,” NSW Minister for Women, Bronnie Taylor, said in a media release.

The documentary series was also the recipient of a NSW Government My Community Project Grant, which was chosen by residents of the inner-west Newtown electorate. The four-part series traces women’s financial lifecycles from childhood through early adulthood, caring to retirement, scrutinising the cultural and socio-economic forces that make women financially vulnerable – that’s everything from the gender pay gap to ageism and the financial impacts of motherhood.

 

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“We set out to understand why nearly half of Sydney women are earning $34,000 or less. Addressing women’s financial vulnerability is complex… Attitudes to money impact a woman’s lifecycle: from when an Australian girl gets 25 percent less in pocket money, through to women retiring with 45 percent less in superannuation,” said Sydney Women’s Fund CEO Jane Jose.

“Sydney Women’s Fund research and the Women’s Work documentary tell us we need more women to be aware of the risk factors of financial vulnerability. Even some well-educated and high-income earners can become vulnerable if they are not in control of their money.”

To view the documentary or participate in the Women’s Work education program, visit womenswork.org.au.