Your Toolkit is a comprehensive resource containing information to assist women and children facing domestic violence and financial abuse transition to becoming independent, empowered and financially resilient. Your Toolkit is specifically tailored for their circumstance and provides crucial information in relation to personal finances as well as other relevant information that will assist them on their journey to independence.
Your Toolkit has a menu-based approach that makes information easy to access, not overwhelming and available when it’s needed. Information is provided for different stages of the women’s journey:
• Preparing to Leave or “Prepare”;
• Time to Go or “Launch”;
• Things to do when you leave home – Early Days or “Nourish”; and
• Moving Forward – Longer Term or “Flourish”.
Financial abuse is malicious as it deliberately strips women of their independence, confidence and ability to manage their personal financial situation. It is estimated to occur among 80-90% of women who seek support for family and domestic violence, and lack of economic security and financial resources are the primary reason women return to abusive relationships. Furthermore, WA has one of the worst rates of family and domestic violence in Australia.
Freely and easily available information about personal finances, and other relevant information including safety and support services that are available, is key to increasing women’s financial resilience and ability to leave abusive relationships. Traditional financial literacy education is not appropriate for many women who find themselves in situations of abuse and Your Toolkit will be an important tool for these women and their children.
Your Tookit has been developed by the Women at Risk Committee of Financial Toolbox, Inc. Research shows that many WA women have barely more than half the savings of men; 60% of WA women retire with zero superannuation; on average women earn 24 per cent less than men; and most WA women still lack financial confidence and skills to invest. Financial Toolbox aims to empower women across all socio-economic groups through financial education.
The Women at Risk Committee work in partnership with Chartered Accountants Australia and New Zealand, ensuring their financial education is backed by experts. Financial Toolbox is split into committees, each focusing on a targeted segment of WA’s population.
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