There are some basic facts about women and money that are well recognised: lower than average incomes, broken work patterns usually due to family reasons, as well as lower super balances and longer life expectancy.
Overall, women tend to be less confident in their ability to manage money.They are less comfortable with their financial situation, and they are more conservative in their approaches to managing and growing their wealth.
A woman’s relationship with money can either support or undermine her financial and emotional wellbeing.
Financial Literacy research in Australia* has found that the majority of women find dealing with money stressful and overwhelming.
So how do we fix these issues that women face?
By providing flexibility in the workplace, addressing the gender pay gap and helping women boost their super.
Our focus though, is to provide better financial education for women.
Women are interested in learning about money.
Practical money management skills are not taught in school and adult financial literacy programs focus mostly on building numeracy and technical knowledge. But effective money management goes beyond just technical.
Financial literacy is a complex combination of skills, knowledge, attitudes and ultimately behaviours in relation to money.
To address this, we've created a social enterprise: Wellthy and will be launching The mindful wealth movement to empower women with wealth & wellbeing.
Our goal is to change the way that financial literacy is delivered in Australia and globally, and to inspire women to take control of their relationship with money, build confidence and create better financial and emotional well-being for themselves, their families and their communities.
The mindful wealth movement provides financial literacy in a way that is distinctly feminine, practical, creative and fun.
The learning framework includes the technical knowledge as well as the life skills that build the inner resources and resilience to create positive mindset and financial behaviour.
The online platform has been designed specifically to take into account each individual’s learning profile. At the beginning of the program a quiz is taken to determine a learner’s personality and cognitive preferences.
A creative learning journey is then populated using text, visual, audio and interactive mediums.
Think of it like a choose your own adventure style of learning!
Launching early 2016 will be our 6 Week Online program
Followed by 2-day workshops and 4 day wealth wellness retreats incorporating a holistic approach to wellness through nutrition, exercise, yoga, mindfulness and wealth wellness.
* Financial literacy – women understanding money, Australian Government, 2007