We don’t need to tell you that the gender pay gap is an undeniable force that dictates the finances (or lack thereof) of every Australian woman throughout their careers.
The Association of Superannuation Funds of Australia recently found that the average superannuation balance at the time of retirement is $292,500 for men and $138,150 for women. This means that men receive more than double the superannuation of women.
Watch: When it comes to owning what we’re worth, it’s time to take the bull by the horns ladies! (post continues after video…)
Other research, from Monash University, has found that 34 per cent of single women over 60 are living in permanent income poverty, compared to 27 per cent of men.
While we’ve taken many steps forward to help breakdown structural gender barriers over the last century, a recent study by RateCity has shown that, even today, this inequality still trickles down into the household finances
Around two thirds of men (65.9%) are more likely to take the reins for household financial decisions, compared with less than half of women (47.2%). And, in news that shocks no one, only 4.6% of men think their partner is the financial “boss”.