This #InternationalWomensDay, we wanted to do something meaningful to celebrate and champion women. So we’re raising awareness of an important and frequently misunderstood issue: financial abuse.
Our client Commonwealth Bank is committed to increasing understanding of financial abuse through the CommBank Next Chapter program, which has an ongoing partnership with Good Shepherd Australia New Zealand, Australia’s oldest NFP that supports women suffering from abuse and disadvantage.
Today, our Sydney team was joined by a brilliant guest speaker in Jinny Olney, CommBank Senior Manager Partnerships, for a conversation with Brooke Le Poer Trench, content director and editor of Brighter magazine, to share some crucial information about financial abuse and what can be done to help prevent it.
Affecting 1 in 6 Australian women, financial abuse occurs when someone uses money to gain power or control over a partner, leaving victims feeling like they are unable to leave unsafe situations due to their loss of financial independence. Women are particularly at risk of financial abuse after big life milestones where finances become blended, such as moving in together, getting married or having children.
Our top 3 takeaways from Jinny’s talk:
1. Increasing financial literacy among all Australians is key to eradicating this kind of abuse. Financial literacy might seem like an intimidating concept if you’re someone who doesn’t feel “good with money” but it’s simply about having access and control over your finances and retaining enough independence that you can leave a situation if you stop feeling safe.
2. We need to normalise conversations about money. Personal finance can feel like a private topic not to be discussed openly with friends and family. But it’s important to destigmatise these conversations so we all feel comfortable talking about tricky financial issues when they arise.
3. If you feel that you or someone you love might be experiencing financial abuse, trust your instinct. Ask questions and offer support. Have check-ins with yourself and others to ensure you’re feeling in control of your finances and employment situation.
Following the talk, we hosted a clothes sale to raise money for Good Shepherd, with lots of donated items from members of our team being sold to very happy new owners!
Thank you to Jinny, and to all who donated clothing and money to such a great cause.
#IWD
Wonderful to see this PROUD turnout of support across the banking sector with so many of our awesome Pride Pledge supporters!