Financial Literacy Capacity Building

In Australia, only one in two women have basic financial literacy. Women, for example, who are migrants from a non-English speaking country have a financial literacy rate of 40.5% this compares to 49.1% for Australian born women. Similarly, women whose highest level of education was Year 12 or less have a financial literacy rate of 38.3% while the rate for tertiary qualified women is 65.2%. Financial abuse disproportionately affects women. The prevalence of such abuse among women (15.7%) is more than double that of men (7.1%). Of women who experience domestic violence, 99% also experienced financial abuse at some point in the relationship. Various factors are thought to influence financial insecurity including social isolation, marginalization, insecurity and a lack of knowledge about legal and financial support services. Therefore, empowering these women with the knowledge of their rights under Australian law and understanding of financial literacy is key to their economic security, financial independence and meaningful inclusion in society.

 

The objective of Alo’s financial literacy program is to support women from CALD backgrounds build capacity towards financial security, independence and wellbeing. Alo aims is to provide information that will assist women understand their financial rights, help them manage budgets and finances on a day to day basis, but also plan for longer term financial security. Most importantly Alo wants to contribute towards sustainable development goals 4.4 and 5.

 

We are very proud to present the first ever in ACT ‘Financial Literacy Toolkit’ and the workshop ‘Harmony through Financial Security’ to empower CALD women with financial literacy. Inspired by evidence-based community education principles and using a culturally appropriate training module, this toolkit addresses three key areas in a step- by-step process:

 

  • CALD women’s relationship to money, including what constitutes financial wellbeing, warning signs and your legislative rights;

 

  • Hands-on experience on how to manage your finances using a culturally-appropriate financial tool kit for CALD1 women, first in the ACT2

 

  • Information on available resources and support programs in the ACT and beyond.

 

You can access the toolkit by emailing Alo.

Alo Enlightened Women are delighted to invite you to attend an ADVANCED level 3-session online financial literacy course for FREE in August 2022, funded by the ACT government. The sessions will build your confidence when making decisions relating to you and your money. The sessions are online and are run by women for women in a safe learning environment. Participants will also receive a copy of the financial toolkit (30-page document) specifically designed by Alo for CALD women.

The aim of the course is to help women from CALD backgrounds wanting to increase their financial capability skills in a safe learning environment that is run by women for women. A previous program was offered at the Basic level in June 2022 and now it is time to offer Advanced financial literacy to women to benefit from more advanced level topics. Participants will have the opportunity to hear from a range of experts. Each session will run for 1-1.5 hours and will be held on Wednesday evenings in August. This means women don’t need to leave their home which is particularly important as they are often the main care providers. Please ask as many questions to the experts as we want these sessions to be beneficial to our attendees.

These training sessions are FREE supported by the ACT Government, but registration is mandatory at: Caring for your Money- Advanced Topics. Once you register, zoom link to join the session will be emailed to you.

You are welcome to attend any number of sessions as you see fit. Just join one or come to all!

Session 1 (August 3, Wed 7.30pm) – Superannuation and You 

Do you know how much super you have or how much you need to retire on? Does the mere mention of the word superannuation give you a headache? If so, then this is the session for you. Come and hear superannuation tips and suggestions from super expert, Ishara Rupasinghe of Evans & Partners. 

Session 2 (August 10, Wed 7.30 pm) – Passive Income and Investing 101

There are other ways to think about wealth than just property investment. Ever wondered how to invest in shares? This session will be facilitated by a financial planner on how to get started in the share market and what you need to buy shares and build your initial share portfolio. This session will be facilitated by financial planner champion, Ishara Rupasinghe of Evans & Partners.

Session 3 (August 17, Wed 7.30 pm) - Wills and Power of Attorney

Do you have a will? Why is a will important?  This session is especially important if you are a parent or carer and want to be in control of who cares for your children or receives your assets if you should pass. This session will be led by Monica Manor of Sparke who will discuss what to consider when it comes to preparing a will as well as a power of attorney.

These FREE workshops are not to be missed as the workshops will be facilitated by champion experts in related fields as mentioned above.

Hope to see you online - let's learn, laugh and liberate with Alo!

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Financial Toolkit4CALD women

FREE  basic financial wellness course for women from culturally and linguistically diverse backgrounds funded by the ACT Government

 

As women we are programmed from a young age to care for those around us but what about our money and our needs? Understanding how to navigate our money is one of the most fundamental skills in life that helps us be able to meet our basic needs now and into the future.

 

The aim of the course is to help women from CALD backgrounds wanting to increase their financial capability skills in a safe learning environment that is run by women for women. The FREE basic course will be held over 3 weeks in June.

 

Participants will have the opportunity to hear from a range of experts. Each participant will receive a copy of the financial toolkit (30-page document) specifically designed by Alo for CALD women. Each session will run for 1-1.5 hours and will be held on Wednesday evening per week. This means women don’t need to leave their home which is particularly important as they are often the main care providers.

 

These training sessions are FREE supported by the ACT Government, but registration is mandatory. After registration, we will send you the Zoom link before each session.

 

You are welcome to attend any number of sessions as you see fit.

 

Session 1 (8th June) Me, Myself and Money Ever thought about your relationship with money and how it was shaped?  This session will explore your relationship with money and how it impacts on those we share a financial life with including our partner, kids and extended family and friends. This session includes a trained financial counsellor who will share some tips and strategies on how to communicate with family and friends about money so that conversations can be productive rather than a source of conflict.

 

Session 2 (15th June) Budgeting for life Budgeting – do you love it or loathe it?  Managing money is something most of us will need to do for all our adult lives. This session will be facilitated by a financial counsellor at Care, who will share tips and strategies to make sure your budget is working for you!

 

Session 3 (22nd June) Your consumer rights and responsibilities When was the last time you purchased something from a shop or signed a consumer contract?  Most of us interact with consumer products and services daily but do we know what our rights are as consumers?  This session will be facilitated by a solicitor from the Consumer Law team, and if you like the ABC show the Checkout – then you will enjoy this session.

 

Hope to see you online - let's learn, laugh and liberate with Alo!

The FREE advanced course will be held over 3 weeks in August. Keep an eye out for that to pop up soon!

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Harmony through Financial Security

The overarching objective is to support women from CALD backgrounds to build capacity towards financial security and independence which will enable/facilitate social inclusion for this cohort. Focused, hands-on, day-long workshop, funded by the ACT government. 

  • Women’s relationship to money in South Asian cultures,

  • what constitutes financial abuse, warning signs and your Legislative rights,

  • Available resources and support programs

  • Finally Learning how to manage budgets and finances using a Financial tool kit

Financial Literacy 4 Women

Alo hosted its inagural workshop designed to assist women to improve their financial knowledge and help with financial management and planning, including superannuation. 

This was an interactive workshop with activities and prizes.


Presenters:

Ishara Rupasinghe - Executive Director, Dixon Advisory
Zakia Patel - Regional Managing Director, Multicultural Hub Canberra

When: 5 June 2021 (Saturday) Time: 1:30pm – 4:30pm

Venue: The Theo Notaras Multicultural Centre Address: 180 London Cct, Canberra ACT 2601

Link to event page:

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