Women, Kids & Money

A concerted effort is being made to help Australian women better understand & manage financial risk to address the demonstrated lack of condfidence this group has when it comes to money matters.

The Financial Literacy Foundation's "Women Understanding Money" report revealed women has a real 'switch off' factor when it comes to finance. The report revealed 52% of Australian women find dealing with money stressful and overwhelming and 25% of women have absolutely no savings for retirement. of the women who do invest, less than 5% look at the company's background information.

And this is happening at a time when women are increasing their independence: for the first time since the end of World War One, there are more single women in Australia than married women.

Children are also being encouraged to develop their money skills.

Banks, community groups and other have developed a number of learning activities to help kids obtain a realistic understanding of money. For example, Citigroup in working with the YWCA to develop a financial literacy program for primary school children, while independent company Kids Money has recently paired up with Bank West to provide seminars and educational resources.

The Financial Literacy Foundation was established by the Government in 2005 to give all Australians the opportunity to increase their financial knowledge and better manage their money. It works in partnership with government, industry and community organisations to advance financial literacy.