Bauer Media has today launched a major campaign designed to empower and educate the nation’s more than 12 million women about their personal finances and financial abuse.
According to research based on the Australian Bureau of Statistic 2012 Personal Safety Survey
15.7 per cent of women had experienced economic abuse in their lifetimes with the risk of economic abuse peaking at 20.9 per cent for women between the ages of 40 and 49.
The campaign, entitled Financially Fit Females, will be run across Bauer’s 36 media brands,
including ELLE, Harper’s Bazaar, The Australian Women’s Weekly, and Woman’s Day with a
combined readership of some 7.5 million.
At a breakfast in Sydney to celebrate International Women’s Day, Jane Waterhouse, general
manager of Bauer’s Story 54 said that the campaign is centered around one of the most serious
problems facing many Australian women; not having full control and understanding of their finances and how this can lead to financial and economic abuse.
“This campaign will sit at the heart of Bauer’s activist agenda over the coming year and into the
future,” Waterhouse said.
The Financially Fit Females campaign will drive 1 million actions to increase understanding and
educate women around key issues:
● Financial and economic abuse; what it is and how to recognise it
● Savings and investments
● Maximizing super
● Being paid appropriately
● Navigating separation and divorce
Anna Bligh, CEO of the Australian Banking Association, acknowledges Bauer’s Financially Fit
Females campaign is an important initiative.
“Helping women to fully understand and be informed and confident in their financial decisions is important and will go a long way towards addressing the many issues associated with female
financial abuse,” Bligh said.
According to last year’s Melbourne Institutes HILDA survey, Australian women are much less
financially literate than men with 85 per cent of women under 35 not fully understanding “fundamental investment concepts”.
Bauer’s finance editor Effie Zahos said, “Women are just as much a part of our economy as men,
but many still seem to have a poor understanding of important financial concepts and activities.
“The way a woman deals with savings, superannuation, separation, the gender pay gap and other significant issues can spell the difference between living a financially comfortable life or not.”
Woman’s Day editor-in-chief Fiona Connolly said major problems could emerge when a woman does
not understand her finances and more significantly leaves their management to a partner.
“The situation can become dire for older women whose partners take control of their joint finances,
leading to women being forced to live in domestic poverty and suffering from financial abuse.
“The facts are that financial abuse is highly gendered with more than 15 per cent of women
experiencing financial abuse often in romantic relationships.
“Sexually transmitted debt and inappropriate financial affairs are very real problems for tens of
thousands of Australian women,” Connolly said.
Paul Dykzeul, Bauer Media CEO said the Financially Fit Females campaign will build on Bauer’s successful participation in the community push last year to have the GST on female sanitary
products, aka “the tampon tax” removed.
“What is now clearer than ever is that a concerted media campaign by a publisher like Bauer around
significant women’s issues can have an impact and force real change.