The inaugural Money Matters for Migrants in 2018 was the realisation of a long held dream for Financially Empowered’s CEO Grace Mugabe. After working with several community groups Grace had identified a need for a specific kind of financial training, she knew that with her knowledge and commitment she could create positive change amongst women from a CaLD background.
A lack of financial literacy can lead to financial abuse (at the most extreme end) and a feeling of low self-worth and lack of empowerment.
The program focuses on financial literacy for migrant women but also on complimentary resources and education that supports this. The 2018 workshop ran for a full day but Grace had a vision to create a more extensive program that will run over 4 weeks. Topics such as money mindset, budgeting, superannuation, investments as well as tax obligations will each be explored in depth.
The motivation behind Money Matters for Migrants is to be the catalyst for migrant women to connect with services that would support them as well as being able to understand exactly what they need to take charge of to improve their financial literacy. When designing the program Grace knew it was important to bring the women together in a supportive and connected group. Her hope was that not only would the attendees take away valuable knowledge and a larger support network but also that this change would then filter through to their daughters and other relatives.
Women in our community tend to have less financial literacy than men but even more so in those from a CaLD background of which Perth has a large population. The barriers in the way can be simple to address but without doing so the end result would never be as successful as hoped. This is why Grace ensured that the Money Matters for Migrants program included free childcare, interpreters, an accessible location and local relevance.
“Perth has an array of affordable services – a number of them free – to support women in various personal situation – financial abusive relationships, drowning in debt, mentally & physically unwell – that many people are not aware off. No matter what their circumstances may be, I want all women to know that they are never alone.” – Grace Mugabe