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ASIC launches ‘money toolkit’ for women

In an initiative to help women manage their finances and their financial wellbeing, ASIC has launched a free online resource to provide information.

Available on the regulator's MoneySmart website, ASIC said the Women’s Money Toolkit was developed in response to the particular needs of women who face financial challenges such as variable workforce participation and lower superannuation balances.

The online tool can provide “impartial financial guidance” for life events such as buying a home, illness and disability and in the case of family breakdown.

It also contains new online tools to see what effects taking time out of paid work will have on current and long-term financial situations and to help women manage those effects.

Commenting on the initiative, Senator Michaelia Cash, the minister assisting the prime minister for women, said women of all ages could benefit from the tool.

“Whether you’re in control of your finances and looking to gain an edge, or if you’re struggling to make ends meet, the toolkit can help you,” Ms Cash said.

“Women’s financial literacy plays a vital role in ensuring the economic security of Australian women but also the wellbeing of their families,” she said.