Financial literacy
Assists women who want to better manage their money. Women Understanding Money—is a series of 14 information sheets designed to help women of all ages and income levels to improve their money management skills. The information sheets have lots of information on topics from budgeting, saving, investing, and making the most of your superannuation.
- Your relationship with money - PDF [780kB]
Your relationship with money - RTF [67kB]
- Starting out – you’ve got your first job, now what? - PDF [857kB]
Starting out – you’ve got your first job, now what? - RTF [104kB]
- Managing on a low income - PDF [784kB]
Managing on a low income - RTF [106kB]
- Money and the single women - PDF [817kB]
Money and the single women - RTF [84kB]
- Managing money in your relationship - PDF [812kB]
Money and the single women - RTF [73kB]
- Having a baby? - PDF [809kB]
Having a baby? - RTF [67kB]
- Teaching your kids about money - PDF [836kB]
Teaching your kids about money - RTF [55kB]
- Your money is your business - PDF [750kB]
Your money is your business - RTF [52kB]
- Managing money when your relationship ends - PDF [797kB]
Your money is your business - RTF [79kB]
- Getting ready for retirement - PDF [760kB]
Getting ready for retirement - RTF [76kB]
- Managing money when your partner dies - PDF [764kB]
Managing money when your partner dies - RTF [62kB]
- How to get good advice about money - PDF [822kB]
How to get good advice about money - RTF [86kB]
- Get to know your super - PDF [833kB]
Get to know your super - RTF [72kB]
- What does it all mean? Understanding the language of money - PDF [739kB]
What does it all mean? Understanding the language of money - RTF [57kB]
These information sheets are a joint initiative of the Financial Literacy Foundation (www.understandingmoney.gov.au/Content/Consumer/About/aboutflf.aspx) and Office for Women (in consultation with) Security4Women (www.security4women.com/).
Superannuation
A person’s capacity to accumulate superannuation is linked to their past earnings, employment history, and level of voluntary contributions. Women’s increasing labour force participation rates are improving their ability to accumulate superannuation. However, the link between paid employment and superannuation means that women tend to be disadvantaged in their ability to save for retirement.
Women in general spend less time in the paid workforce than men, earn less than men, are more likely than men to be in part-time and periodic work, and are more likely to have interrupted career patterns due to caring responsibilities. Women’s employment is also concentrated in lower paying industry sectors and occupations. These factors impact on women’s capacity to accumulate superannuation.
Based on the ABS Survey of Employment Arrangements, Retirement and Superannuation, in 2007, 71 per cent of all people aged 15 years and over were covered by superannuation. Corresponding with the introduction of the compulsory superannuation guarantee in 1992, a higher proportion of people aged 25-54 years had superannuation coverage (87 per cent) than people aged 55 and over (50 per cent). Only 41 per cent of women aged over 55 years were covered by superannuation compared with 60 per cent of men.
In 2007, the mean superannuation balance for men aged 15 years and over, with accounts in the accumulation phase was $87,589 compared with $52,272 for women, while the median balances were substantially lower at $31,252 for men and $18,489 for women. This reflects that a relatively higher proportion of people have low superannuation balances
Women in business
Ms Entrepreneur is a multi-media initiative showcasing women in business through:
- a website (http://www.msentrepreneur.com.au/)
- an annual magazine; (http://switzermedia.com.au/bookstore/ms_entrepreneur.html)
- a series of in-flight television programs;
- radio programs.
The first edition features 13 case studies of women in business, along with relevant editorial content. The magazine focuses on the full spectrum of women in business, from women in large corporations, women who run a small business from home and women who are newly engaged in, or thinking about, starting a business.