Why Life, Work & Money Matters to Women!

MELBOURNE, Australia - June 7, 2016 - PRLog -- Education on Life, Work & Money has never been more important for Women everywhere. Every day we make choices, that impact our income, housing and superannuation. These choices may seem small at the time, but how we spend our time and money, how we live, how we work, can impact our lives, how we live today and how we will be able to live in the future.

We need to make educated choices. Did you know that if we saved the cost of a 1.5 coffees each day, from 22-65, we would have more superannuation than the majority of women at retirement age in Australia? The earlier we start, the easier our choices will be.

So let's talk about statistics for Women in Australia?

Let's start with Employment….

We begin employment and the percentage of us employed, in each age group overall, remains reasonably static. We may, however, move in and out of employment and the type of employment we do, whether that be full time, part time etc.  When we reach 55-64 the percentage drops and continues to do so, this may be through choice, however it also directly impacts our income,  which we will get to shortly.

Relationships

Most of us are not married or living with a significant other until we reach 25-34, this is a significant time of change for us. We marry for the first time, on average at 29.6 years and then the median age to have a baby is 30.9 years, in Australia today we then go on to have 1.8 babies. Some of us choose not to have children (and some of us do not get to choose).

We move in and out of relationships, some of us never marry, 1 in 3 first time marriages end in divorce, with almost half involving children, 1 in 4 women between 45-54 are separated, divorced or widowed and the percentage keeps growing through our later years. By the time we are 65-74, almost 40% are separated, divorced or widowed and with us living longer, for those of us who made it to 85+, only 17% of us are still married.

Money starts with income

Almost 50% of us, have income close to a single persons pension, even during our key earning years 30% of us, still earn <$399 per week. Only 1 in 5 women were ever earning close to the average full time adult wage or above.

Housing

Some good news is we do better at housing, but only 73 % own our own home by 65-74, this is a critical time in our lives with close to 40% of us separated, divorced or widowed and 60% on us with income close to the single persons pension. Having a plan to have paid of your home, or have increased income, will offer us with more life choices.

Superannuation

Generally your super has a direct relationship to your income, with our income levels being below the average for our key earning years, we need to consider how we grow our superannuation or what other investment options we should have.


Check out our Why Life, Work & Money Education Matters to Women video https://www.youtube.com/watch?v=L7M9Yo2MGfo




Start NOW!

The earlier you start to understand and educate yourself on how everyday choices can impact your life, the smaller changes will need to be. We need to educate ourselves and our children, to ensure that we understand the true impact of our life decisions.

Isn't it time to start your financial education?

For our latest Life, Work & Money Workshop for Women http://www.lifeyouchoose.com.au/workshop/

These statistics are from the last Census, as well as some key updates from ABS in 2014.