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Women Talk Money

By Miryana Power 1 min read
Thursday, August 30, 2018

If you are not comfortable making decisions about your finances today, you run the risk of not getting the most benefit out of your money in the future.

"There are inequity issues to consider, the gender pay gap cannot be ignored," said Australian Securities and Investments Commission (ASIC) Commissioner Cathie Armour. "And workforce issues are often further complicated by the fact that women tend to be carers—whether it’s for young children or elderly parents—and career breaks create situations where women don’t have the same continuity of earning their male counterparts have.

ASIC is the lead Australian Government agency for financial literacy.

"Women often focus on the everyday needs of their families and lives and have looked at money in a very immediate way. We want to change this and encourage women to look at money from a longer-term perspective," Cathie said.

"Talking about money is a good thing and ASIC is keen for women everywhere to join this conversation."

ASIC Deputy Chair Peter Kell emphasised that thinking long-term is important and he wants more women to plan for the future and think about their superannuation.

"If young women are more engaged with their super, and stay engaged with it throughout their careers, they stand a much better chance of financial independence and self-determination in later years," Peter said.

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Miryana Power is a PR, media and communications adviser with the Australian Securities and Investments Commission.