Research indicates women continue to face systemic and societal barriers to financial resilience, especially post-pandemic.
It is something the Financial and Consumer Services Commission (FCNB) is hoping to help address during Financial Literacy Month.
“National research tells us gaps still exist between men and women that we want to better understand and take steps to address,” said Marissa Sollows, director of education and communications at FCNB.
Sollows said improving the financial literacy of women is one of the many ways to help narrow that gender gap.
She noted that an understanding of the basics of personal finances comes the confidence to make a plan for the future and feel protected in the event of a crisis.
With that in mind, FCNB will be launching a survey as part of a research project to learn more about the financial literacy needs of women and understand their specific challenges.
“Financial resilience is achieved when you have the skills, confidence and knowledge to make smart financial decisions in good times and bad,” said Sollows. “Due to the specific challenges that women face, a one-size-fits-all approach to financial literacy doesn’t cut it for them.”
The commission, in collaboration with Dialogue NB, will also co-facilitate a discussion on financial resiliency and the gender-based challenges faced by women on Nov. 24.
Sollows said women account for 42 per cent of income earned in Canada last year, and they want to see that number grow.
“We hope that participating in these activities will give us some insight into how we can help foster financial resiliency among women,” she said.
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