New online tool empowering women to take control of finances

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New online tool empowering women to take control of finances

25th May, 2015

The Commonwealth Government today launched the Women’s Money Toolkit, a free online resource to provide women with knowledge to manage their finances and achieve their financial goals.

The Minister Assisting the Prime Minister for Women, Senator the Hon. Michaelia Cash, said Australian women of all ages can benefit from this free online resource.

“Whether you're in control of your finances and looking to achieve your goals, or you're struggling to make ends meet, the toolkit can help you,” Minister Cash said.

“Women’s financial literacy plays a vital role in ensuring a stronger economic future for Australian women and their families.”

The toolkit provides specific financial guidance for women who are having a baby, caring for others, buying a home, dealing with illness and disability and family breakdown.  The Australian Securities and Investment’s Commission (ASIC) developed the toolkit in partnership with the Office for Women in the Department of the Prime Minister and Cabinet.

ASIC Commissioner, Cathie Armour, said "We know that many women are key money managers in the family and are also more likely to face a range of specific financial challenges.”

There is a persistent gender pay gap and almost half of women in employment work part-time hours compared to one in six men. Women are also living longer than men but on average retire with almost half the amount of superannuation that men do.

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