Women's Financial Literacy

Young Women and Credit

This 2009 research project sought to investigate how young women relate to money, to understand their levels of financial literacy, to uncover methods to improve these levels. Funded by Consumer Affairs Victoria, the study was conducted in response to the increasing trend for young women between the ages of 15 to 25 years to experience increased levels of debt.

Download a copy of the report here (pdf 850 Kb)

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In 2007 WIRE, with funding from the Helen Macpherson Smith Trust, and the research expertise of URCOT, an independent, not-for-profit, action research centre affiliated with RMIT University, completed a study into the financial literacy of Victorian women.

Download a copy of the Women’s Financial Literacy Research Report here (pdf 2.6 Mb)

'A woman's guide to surviving the money jungle'

Another output of this project was a colourful foldout resource written in plain English and designed to acknowledge women's fear while inspiring them to take action and providing them with links to helpful resources. It reminds women that it is never too early and never too late to take steps towards securing their own financial futures.

View the guide here (pdf 766Kb)

To obtain free copies of the guide call 1300 134 130 or visit the Women's Information Centre on the ground floor of the Queen Victoria Women's Centre, 210 Lonsdale Street Melbourne.

Key findings

We found that women in Victoria, even highly-educated, well-paid women, feel overwhelmed, clueless and fearful about managing their finances.

• 55% of women said they had a high level of interest in financial matters

• 25% felt well informed and knowledgeable about finance

• 11% felt able to easily read and understand financial information

• 16% said they regularly sought out financial information and advice

Many women said that faced with what they saw as a minefield of information and options they didn't properly understand they were frozen into inaction.

They also told us they felt there was a lack of trusted, gender-sensitive information and advice available to women.

The report recommends that financial products, services and educational programs need to be designed taking gender into account. Specifically, women need to be provided with an outlet for those emotions and experiences that act as barriers to them learning and acting on financial information.

Financial information also needs to be written in plain English and in a way that women can relate to.

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