Closing the Gender Pay Gap
What it looks like to be a financial feminist all year round
Happy International Women’s Day one and all 🎉
Our newsletter is arriving a little early this month – we’re keen to celebrate IWD and think about how we can go beyond the cupcakes and morning teas, and take action toward a gender equal future all year round.
In the spirit of this year’s IWD theme, “Cracking the Code: Innovation for a Gender Equal Future,” we’ve curated initiatives that are all about empowering women, 8 critical (and practical) insights around being a financial feminist, and a bunch of resources created by and for women who are pioneering change. Enjoy 💪
Back gender equality on the daily
☕ Meet a friend at this cafe that’s working to end modern slavery in Australia
🛍️ Purchase totes, candles and more from this social enterprise supporting women who have survived abuse
👚 Donate your gently used clothes and empower women to achieve economic independence
🎁 Buy gifts from this delivery service that employs women experiencing homeless
🍲 Cater your next event with this business that helps women break free from the cycle of disadvantage
Gather pads, tampons, menstrual cups and more to help end period poverty
👩🍳 Try these recipes to support women experiencing family violence and learn about life-changing acts of kindness
👀 Browse this directory of women and non-binary owned businesses in Australia
8 things we need to know about being financial feminists, by Christina Hobbs - Co-Founder and CEO of Verve (Australia’s first super fund & investment platform tailored for women)
Be in control of your finances. It was only 55 years ago that married women in Australia were allowed to keep their jobs after they got married – and only in the 1980s that women no longer needed a man’s approval on a home loan. Most financial companies in Australia were originally founded by men, with a male customer in mind. The act of being in control and on top of your finances is in itself a feminist act!
Talk money. Women talking money is a still a societal taboo – so talk money with your partner, your children, your friends. Talk about your salary with your coworkers. Knowledge is power, and money is power. So build both by breaking the silence.
Shop with women and non-binary owned and led business. This one is as simple as it sounds. Whether you’re shopping locally or not, buying from women-owned businesses is a way of supporting systems change.
Invest in equality. “Money and power can liberate, only if they are used to do so” – Maya Angelou. From making personal donations, to where you choose to invest your superannuation – the way you use your money can have a profound impact on driving the world towards equality.
Advocate for equality in your workplace. Negotiating your own salary is one thing. But if you’re a highly valued employee, how about using your organisational capital to bring other women with you? Request organisational level pay-gap transparency, equal parental leave rights for men and women and birthing parent and non-birthing parent, and/or request that all parents continue to get paid superannuation while on parental leave.
Be a money feminist in your relationship. Ensure that both/all partners in a relationship have an understanding of how finances are being managed, and equal say. Itemise the hours of unpaid work in the relationship and ensure they are being equally distributed, alongside paid work commitments. Most importantly, consider how to make money fair in your relationship as you start to have children.
Teach your children about money and inequality. Address sexist money stereotypes that you see with your children (i.e. don’t, as my parents did, make the film Pretty Woman a family movie night favourite without some critical analysis). Model good financial behaviours in your own relationship and encourage broader conversations about economic and financial equality.
Don't believe the trope that women are bad with money. It feels like every other week, there’s a new survey showing that women are less confident and skilled at managing money than men. The reality is that men and women compare similarly on most metrics of money management – with men being more confident and experienced with wealth building, and women typically feeling more confident and skilled with managing budgets and day-to-day finance.
Reads & resources
Level up your gender allyship practices with Better TogetHER
Food for thought
“Being a feminist means believing that every woman should be able to use her voice and pursue her potential, and that women and men should all work together to take down the barriers and end the biases that still hold women back.” — Melinda Gates, Philanthropist and Businesswoman
“A woman that makes a logical and rational financial decision is a woman who raises a son that expects women to enter the workforce; is a woman who raises a daughter who recognises her place in the future.” — Reema Bint Bandar Al Saud, Saudi Arabian Ambassador to the US
“In all the roles we occupy from the mother and grandmother, to the carers of our families and communities, to the CEO, artist, activist, scientist and doctor, we have many gifts, talents and so much to contribute. Each one of us has a right to our distinct Aboriginal and Torres Strait Islander voices. As Indigenous women, we should feel confident to be all of who we are in Australia today, while remaining secure in our identities. We should not be coerced, and never feel the need to assimilate to be successful.” - Ms June Oscar AO, Aboriginal and Torres Strait Islander Social Justice Commissioner
“Economic equity is enormous empowerment of women. Having jobs that provide income means that women can be a more effective force, a more equal force, in the political process.” – Betty Friedan, Feminist Writer and Activist
“Budgeting your money is the key to having enough.” – Elizabeth Warren, Legal Scholar and Democratic U.S. Senator
Gather ‘round our potlucks
In some exciting news, we’re hosting potluck dinners to celebrate Harmony Day on Tuesday, March 21st 🥘 Happening across Sydney, Brisbane and Melbourne, members of the community will be gathering around home-cooked meals and getting to know each other a lil better. We have limited spots for this one, so please RSVP if you’re keen to join us 👉
Thanks for reading and sharing!
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