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Striving for Financial Equality with Financy

As part of our mission to help all Australians achieve financial wellness, we’ve teamed up with an industry leader to level the playing field for women across the country.

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 we look, 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. 

At Wisr, we believe financial independence, literacy and autonomy is crucial to achieving financial wellness, and we know that women are trailing behind. This is why we’ve established a new partnership to help our community get access to 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.

Financy Women’s Index

The gender pay gap offers a 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.

Earlier this year, Wisr became 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, which wrapped up 2021, reveals a Financy Women’s Index FWX score of 72.3 points* – a 1.3 per cent increase on the previous year. Based on future modelling, the timeframe for achieving total gender equality in Australia is 59 years. That said, we are certainly heading in the right direction. The report shows a significant improvement on the worst-performing sub-index, unpaid work, as men’s share of unpaid work increased over the year as women’s declined.

Economic Equality Pact 2030

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. By making this pledge, Wisr and the other signatories agree to help close at least six areas of financial inequality, including education, superannuation, employment, leadership, unpaid work, and the gender pay gap. 

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, visit financy.com.au

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*As reported in the Financy Women’s Index 2021

Disclaimer: This article contains general information only, and is not general advice or personal advice. Wisr Services does not recommend any product or service discussed in this article. You must get your own financial, taxation, or legal advice, and understand any risks before considering whether a product or service discussed in this article may be appropriate for you. We have taken reasonable efforts to ensure that the information is accurate at the time of publishing, but the information is subject to change. We may not update the article to reflect any change.

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