Families Canada is pleased to announce the release of Financial Empowerment for Women Living on Low Incomes: An Action Plan. This Action Plan provides twenty actions for adapting financial literacy programming to better support women living on low incomes.
The Action Plan was developed as part of the project Increasing Financial Literacy Opportunities for Women Living on Low Incomes: An Action Plan for Change, with the contributions of thirty organizations across Canada and our partners’ support, the Canadian Credit Union Association and Vancity. This project was funded by Women and Gender Equality Canada.
Why financial empowerment for women?
Families Canada’s national study demonstrates that gender-specific barriers prevent women living on low incomes from accessing financial empowerment efforts. As a result, these women have fewer opportunities to expand their economic opportunities, lift their families out of poverty, and help their children become the movers and shakers of the future and the backbone of our economy.
Context for action
There are many effective, award-winning financial literacy programs in Canada. However, many of these programs do not meet the needs of women living on low incomes. Families Canada’s national research study “Accessing financial literacy programs: Barriers and opportunities for women living on low incomes” (2020) documents 14 social, economic, and institutional barriers that prevent women living on low incomes from accessing existing financial literacy education programs.
Together we can change women’s lives across Canada – and we all have a role to play.
If you are in a position to impact women’s financial skills, knowledge or confidence—whether through a formal program, by giving advice to a client or friend, or through policy—take a look at these calls to action . Examine your current efforts. Identify actions that are applicable to you. And consider adapting your approach.
With these actions, we can change the lives of women across Canada, break generational poverty cycles, and build a brighter future for the next generation.
Download the Report here.