Striving for Financial Equality with Financy

If you’ve heard of the gender pay gap, you know it’s in pretty bad shape. But there are so many factors that contribute to gender inequality.

They can be hard to quantify, but we see them everywhere, from the proportion of females in leadership positions to the split of domestic labour in the home; we still have plenty of work to do in this space. 

This is why we’ve established a new partnership to help our community access the tools, resources and support they need to feel financially secure.

We’re proud to introduce you to Financy, an organisation dedicated to improving women's financial literacy and economic well-being. Financy helps individuals, teams, and organisations take action to support the financial progress of women around Australia.

The gender pay gap offers valuable insight into the economic disparity between women and men, but holistic financial wellbeing is about far more than your earning capacity. This is where Financy truly shines. The Financy Women’s Index is a quarterly report that aggregates and contextualises data from seven key areas to paint a broader picture of women’s financial progress across the country.

Wisr is a Gold Sponsor of the Financy Women’s Index to help support the incredible work being undertaken to drive better outcomes for women and girls around Australia.

The latest report, reveals a Financy Women’s Index (FWX) score of 76.2 points*. The last year saw significant reductions in the number of years it will take to achieve gender equality in parts of the index, but it also highlights some setbacks including women's progress in employment.

Wisr has also become a signatory of Financy’s Economic Equality Pact 2030. This initiative will help women, businesses, and the government take strides toward economic gender equality.

The Pact is underpinned by the rich data collected through the Financy Women’s Index over the years.

The road to achieving total gender equality is long, but meaningful partnerships, self-reflection, and openness to change will accelerate the journey. 

To find out more about Financy, become a member and sign the Economic Equality Pact 2030.

• Gender pay gap – at 24 years, up from 22 years in 2021

• Underemployment – at 18 years, up from 15 years in 2021

• Employment – at 28 years, down 30 years in 2021

• Board leadership – at 6 years, down from 6.5 years in 2021

• Unpaid work – at 44 years (2021 data), down from 59 years (2020)

• Superannuation – at 19 years (FY20 data), from 33 years (FY18)

• Education and expected earnings – at 139 years, relatively steady.