Build Your Financial Capability
In this topic we will explore what we mean when talking about building ‘financial capability’, why it is important and some practical strategies you implement to empower yourself and achieve your life goals.
‘Growing in Confidence’, Bev Puckridge © 2023
introduction
‘Financial capability‘ not only refers to the knowledge needed to make sound financial decisions, but to a combination of financial knowledge, skills, mindsets, confidence and behaviours that enable positive decisions to be made that fit the circumstances of one’s life.
Financial capability is directly linked to improved financial security, wellbeing and less financial stress for women.
Being financially secure increases women’s access to opportunities such as technology, education, employment and housing, while enabling them to be active contributors to the economy and broader society. It also allows women to have control over their own lives, time and bodies, and an increased sense of voice and agency.
However, recent research indicates that only half of South Australia’s women were financially literate, compared to approximately two thirds of men. Women over the age of 50 and young women in particular are finding financial matters overwhelming and hard to understand. In some cases, this can lead to financial abuse in the context of family and domestic violence and financial elder abuse in the case of older women.
Improving the financial and economic security of women of all ages and socio-economic background must therefore be of utmost importance and a priority area for action on behalf of governments, enterprises, the not-for-profit sector and the broader community.
The Cornucopia Club is Eastwood Community Centre’s small, but not insignificant contribution to the achievement of this goal.
KEY Learning Areas
This Topic features four Key Areas of Learning. These areas have been designed to provide an introduction to the respective issue, not an indepth exploration or analysis. However, recommendations for further reading and information have been provided if you wish to access more detailed information.
To access the Key Learning Areas, just click on the respective image. Each Learning Area is stand alone, so you don’t need to work through them in any particular order.
We trust you find this topic informative and empowering.
This Cornucopia Club Learning Centre Topic has been authored by Jenny McCormick, Movers&Shakers © 2023.