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International Women’s Day (IWD) is an annual celebration marking the social, economic, cultural and political achievements of women. It also marks a call to action on gender parity.

For IWD 2023 the campaign theme is Embrace Equity which, in part, means to understand the journey required to achieve equality. Although societies have come a long way since the first IWD – there remains a chasm when it comes to financial literacy and independence.

According to the most recent ASX Australian Investor Study, there are 9 million adult Australians holding investments outside of super and their principal place of residence. Close to a quarter of those have started investing in the last 2 years and of those 45% are women. Further statistics show that from the pool of Australians who are intending to invest, 49% are women.

Other key findings in the report show that:

  • women are less likely to be active investors than men; they tend to have a greater focus on long-term investing and make more considered decisions about their investments. This contrasts with men who often take more risks and make shorter-term investments
  • women are more inclined towards socially responsible investing, meaning they are more likely to invest in businesses with strong ethical practices or those focusing on important social issues
  • women are more disciplined when it comes to their investment habits and tend to be less swayed by short-term market movements than their male counterparts
  • women demonstrate a greater focus on diversified portfolios and tend to base their investment decisions on research, whilst men tend to be more speculative
  • women have an excellent track record for investing in stocks for longer term growth prospects rather than seeking quick returns or trying to ‘time the market’ – which is something male investors are often guilty of doing.

Whilst these results are encouraging, there are still many women who leave the finances to their husbands or who earn enough to pay the bills but don’t have sound financial knowledge.

Financial literacy and independence is a path to choice and to freedom. With the right knowledge and tools, women can create a more stable future for themselves, their families, and their communities. Financial literacy helps empower women to make informed decisions about money management, investments, debt repayment, retirement planning, budgeting, insurance coverage and more. By understanding how money works and developing financial acumen through experience, education and mentorship, women can take control of their finances with confidence. Furthermore, becoming financially independent allows them to break away from traditional gender roles that limit economic freedom while creating greater access to resources needed for upward mobility.


In these days of rising inflation and the increase in household costs, managing finances has never been more important. Treasury research finds that women reduce their hours in paid work by approximately 35% in the first five years after having a child so there is a bit of catching up to do. Making sound financial choices – especially when households take a hit when women take time off work to raise children, or in a time of crisis – can be the difference between poverty and stability.

When a woman has financial literacy, they can create better living standards and a stronger financial future for themselves and for their families. Understanding the management of money ultimately leads to economic stability for her and her family.

Women who are well-versed in financial matters can provide invaluable support for their spouses or partners when it comes to handling joint accounts or investments.

Perhaps the most important effect when a woman understands finances is the example she is setting for her family. Not only can she provide financial security, but she can also help other family members gain greater control over their own finances. By teaching budgeting and money management skills, she can help them make better decisions with their personal finances and plan for their future needs. Role-modelling good financial choices encourages the next generation to do the same which sets them up for economic freedom.


According to the Women’s Budget Statement 2022-23, the main driver of the gender superannuation gap is the gap in lifetime earnings. In 2019–20, there were 9.1 million men and 8.5 million women with a superannuation account. The median super balance for men is $56,000, and women is $45,000.

National level indicators highlight a gender pay gap of 14.1%, so a woman who is financially literate also has more power when it comes to negotiations about wages and salary –- this can result in more equitable pay for men and women alike.

Being financially independent can lead to greater career opportunities for women because it provides them with more control over their economic situation. Financial independence allows women to make decisions based on their career goals, without relying on financial assistance from others. This gives them more flexibility and freedom in the workplace, allowing them to pursue roles that may have previously been out of reach.


At a societal level, a financially independent woman has the capacity to make a powerful impact. Through increased economic activity, such as entrepreneurship and investment, she can contribute to job creation and regional development projects. This can have far-reaching implications for those in her community, allowing them access to financial services they may not have been able to access before. Additionally, by investing in businesses that benefit larger communities, she can help promote economic growth and build sustainable infrastructures.

Furthermore, with greater control over her own finances, a financially independent woman can make informed decisions when it comes to charitable and community initiatives, which creates much-needed resources for vulnerable groups.

Where to start

Women can become more financially independent by taking advantage of the various resources available to them. Increasing financial literacy is key, as it provides women with the knowledge they need to make informed decisions about money. Freedom comes from the ability to make choices.

There are many online tools and resources that can help women create a budget and track their finances, and any bookstore will stock a range to suit your knowledge starting point. Women can also join support groups, participate in mentorship opportunities, or seek out financial advice from a trusted advisor. Additionally, getting involved in advocacy and policy organisations related to financial issues is another great way for women to become more financially literate and independent.

Financial literacy can open doors of opportunity that would otherwise remain closed due to limited knowledge on personal finance topics. Investing in financial education is an essential step towards empowering women and their families to create a strong and stable future for themselves.

For more information and tips on financial planning, book a free consultation with Fiducian Financial Services.


Lindale Insurances Pty Ltd ATF Lindale Insurances Trust ABN 27 027 421 832 is a Franchisee of Fiducian Financial Services Pty Ltd, Level 4, 1 York Street, Sydney NSW 2000. AFSL 231103 ABN 46 094 765 134.

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