It starts with action.
That was the title of the Financial Services Council’s three-month campaign aimed at growing the financial confidence and wellbeing of women in New Zealand.
It was driven by a desire to change the statistics which emerged from recent FSC research which showed 80% of Kiwi women rated their financial wellbeing as moderate to very low.
While the campaign officially finished this week, in some ways, it had only just begun as the FSC has now announced the It Starts With Action Summit Declaration.
The FSC and its members would establish a national industry working group to lead the change in women’s financial wellbeing; deliver ongoing consumer communications and resources in collaboration with its members and the sector to help Kiwis make informed decisions, protect what matters, and navigate healthy financial relationships; continue to support financial literacy in schools; and develop a policy platform to enhance retirement outcomes for women.
Campaign lead Clarissa Hirst said more than 100 supporters and organisations engaged in more than 70 activities which, when combined with the FSC’s own activity, saw the campaign reach more than 1.6 million Kiwis.
The campaign began on International Women’s Day when television personality Hilary Barry facilitated a panel and was candid about her own experiences, which prompted other women in the industry to share their stories.
The campaign was divided into themes, including growing financially resilient children, the importance of creating a legacy, navigating life’s challenges, protecting what matters, and the gender retirement gap and the role of KiwiSaver.
Women were encouraged to have conversations about money with their family, friends and colleagues, and conversation starter cards, developed with Hatch, "took off".
"It was just all about starting that conversation," Ms Hirst said.
For so long, the world of money and been "so removed" from many women. It had been the realm of middle-aged, white men in suits using complicated words.
The problems were known, so it was about coming up with solutions and Ms Hirst encouraged women to take steps to improve their own situations.
The "absolutely epic" campaign showed the power of a collective effort when there were issues everyone wanted to address. It would be foolish not to use that momentum.
