A female-led recruitment social enterprise operating across Melbourne’s west has joined calls to improve financial literacy standards among school-aged girls.
Earlier this month the Financial Basics Foundation released findings that girls were leaving school with a lower standard of financial education than their male counterparts.
The synthesis of peer reviewed research found that although schools offer classes in this area, the delivery of this course material negatively impacts girls’ confidence and engagement, leaving them at a disadvantage when they enter the workforce.
Often key skills such as budgeting, saving and investment are lumped into mathematics classes, where girls often underperform.
Sally Caruana is the founder of Sheforce, a social enterprise designed specifically to get more women into the workforce and to provide job training where necessary.
Ms Caruana said she has seen many women seeking employment but lacking key skills.
“Most of our people at Sheforce come from disadvantaged backgrounds and have not had the support and guidance at home,” she said.
“We built our Sheforce wellness program to focus on supporting our people in the areas of health, wellbeing and financial literacy to assist in making good decisions and planning for their future so they retire with enough.
“Women are the future face of poverty and homelessness in Australia, they need to become financially independent to retire comfortably and not in poverty.”
Joint research published by the University of South Australia and the the University of Adelaide found that women tagged 55 or older were the fasting growing group of homeless people in Australia.
Financial Basics Foundation chief executive Katrina Samios said there needs to be a shift in current practices to support future generations.
“We know that financial wellbeing is inextricably linked to our individual and social wellbeing,” she said.
“We also know that schools have a key role to play in the social, emotional and intellectual development and wellbeing of their students.”
