This International Women's Day, we’re not just celebrating—we’re pushing for real change!
We know inequality, exclusion and gender gaps are a constant battle, that women around the world, including Australia, have to fight daily. As stated on the IWD website, "focusing on the need to Accelerate Action emphasises the importance of taking swift and decisive steps to achieve gender equality. It calls for increased momentum and urgency in addressing the systemic barriers and biases that women face, both in personal and professional spheres." Among the many challenges facing women are financial independence and financial education. Redefining a woman's relationship with money by providing financial education, investment opportunities, and access to financial resources are just some ways to help contribute to financial independence.
For many women, the world over, there is a great disparity when it comes to finances. The disparity in financial independence has many root causes. However, career breaks, health and relationships are the three main challenges faced by women when it comes to financial independence.
Career breaks
On average, the number of career breaks taken throughout a woman's working life can impact her overall retirement plans and also affect her salary. Career breaks taken by women are one major factor in a woman's financial well-being. Childbearing and caring responsibilities form the largest portion of career breaks taken by women and in turn lower their accumulated superannuation as well as impact their salaries and career progression.
Health
Women on average tend to experience longer lives yet also have larger health burdens than men. The Australian Institute of Health and Welfare (AIHW) advised that "Australian females experience different health outcomes to males. Leading causes of ill health and death for females include anxiety disorders, back pain and problems, chronic obstructive pulmonary disease (COPD) and coronary heart disease. They are also more likely to have multiple chronic conditions." This means that on average, women take more time away from the workforce due to health-related challenges. More facts and statistics on women's health can be found on the AIHW factsheet.
Breakdowns in relationships or abusive relationships
While all relationship structures are different, when it comes to finances in a relationship, most couples have joint bank accounts with one person more likely to have more control and access to shared finances. This can present a challenge to a woman's financial well-being irrespective of the health of the relationship. Whilst this trend may be shifting with more and more millennials moving away from joint bank accounts, this is still an area of concern when it comes to equal access to income, especially with women.
There is a fundamental right for women to have access to their finances at any time they want and to be able to make financial decisions without fear of abuse. When it comes to control of finances by a partner or spouse, it was reported in an article by the ABC in November 2024, that in Australia one in six women experience financial abuse.
Other issues that impact women's economic factors stemming from relationships are those of family, domestic and sexual violence (FDSV). According to the Australian Institute of Health and Welfare, women who have experienced FDSV are also exposed to financial issues stemming from such situations as separation, finding flexibility in employment, leaving employment due to lack of flexibility, a downgrade in career perspectives (due to change in relationship and family dynamics) and homelessness.
Data from the ABS Personal Safety Survey (PSS) in 21-22 stated that about 2 in 3 (64% or 867,000) women moved away from home after ending their relationship with a violent partner. Of those that moved away, 7 in 10 (69% or 597,000) left property or assets behind (ABS 2023). These figures clearly illustrate the economic effects on women in abusive relationships and the impact on their financial independence.
When it comes to financial literacy, it seems women are also lagging compared to men. In an article published by SBS in June 2024, it was stated that financial literacy rates amongst Australian women were declining, particularly in schools. The article refers to financial literacy, referring to handling money wisely and includes such skills as budgeting, saving and investing.
These circumstances outlined above, lower financial literacy rates, plus others, have contributed to huge gaps in gender equality and financial independence for women.
While we are a long way from bridging the gap, there is some good news. In recent years, there has been a shift in the narrative with more women taking control of their financial independence and education becoming prevalent within Australia, especially when it comes to investing. A 2023 ASX study found that "a survey of 5,519 adults found the proportion of female investors in Australia continues to grow steadily (42% of all investors) – and that half of all intending investors are women". And although there is still an inequality between male and female investors, there has been an increase in financial education programs being run by women to assist women, more literature being produced, conversations initiated and awareness around the issue.
Within the last year, Tiger Brokers Australia has seen 25.5% of its client account openings being from females who are taking investing seriously. From those statistics, Tiger has also seen that investing has been popular amongst Gen Z and millennial female groups with 34.7% of women aged 26-35* and 26.6% in the 36-45 age group opening accounts and actively investing. While investing is not the only way forward, it is a small step in the right direction, showing that women are actively taking the reins and trying to carve out a better future.
What can we collectively do to champion women's voices and accelerate change? Below are just three examples of what can be done to support women and accelerate action.
Financial education: Knowledge is power, and financial independence is key to freedom. Let’s break barriers, close the wealth gap, and ensure women have equal access to opportunities. Encouraging and empowering women to take financial control, regardless of how much money they make, can be liberating. In Australia, organisations like WIRE and Women and Money have been created to assist women with resources to kick-start their financial well-being. Women's financial groups and financial personalities like Ladies Finance Club, She's on the Money, Girls that Invest, Tash Invests and Invest with Queenie and many more, have shown women nationally and globally ways to save, and how to invest and make the most of their finances.
Drive equality: Gender pay gaps, leadership representation, and economic justice still demand urgent action. We must challenge biases and push for workplaces and policies that uplift women. Websites such as the Australian Government's Working for Women are a great resource to help understand and promote gender equality.
Champion inclusion: A world that includes and values diverse voices is a world that thrives. Building environments where every woman, regardless of background, has the chance to succeed is key.
In February 2025, the Australian government announced that it plans to fund a $5 million partnership with the University of Sydney's Australian Centre for Gender Equality and Inclusion at Work to support the government's Working for Women, strategy for gender equality in Australia. This initiative is designed to identify practical solutions for government, industry and the community to improve economic outcomes for women.
Tiger Brokers supports women in their fight for equality, inclusion and transformative change. Action starts with us. Let’s invest in women, advocate for change, and accelerate towards a more equal future. Who’s with us?
*Data source from Tiger Trade. Data range 01/01/24-25/02/25
