Suchergebnisse

A lack of financial literacy has far-reaching implications for economic security in old age for women as it may diminish women's ability to plan effectively for later life and/or retirement. To understand and address these issues the National Initiative for the Care of the Elderly (NICE) led a research study to improve the financial literacy of low-income, older, unattached, and immigrant women in the Vancouver (N=201), Montréal (N= 65) and Toronto (N=204). Evidence-based financial literacy tools and workshops on topics related to money management, financial planning, and government assistance programs were developed and delivered. Survey data was collected at baseline prior to workshop and at three-months post-workshop, once a financial action-plan was implemented. Participants reported satisfaction with the workshops and information on: 1) budgeting, 2) estate planning, and 3) recognizing financial abuse. Participants indicated that resources being aligned with the socio-economic conditions of the participants was important. A gendered/feminist lens applied to the findings indicates that older women may have less opportunity to become financial literate if prescribed marriage roles and family dynamics lead to male spouses taking on the money management roles in earlier to late-life. A lifecourse approach is necessary to support financial literacy for women earlier in life and continued programs providing relevant financial information at predictable life transitions in later-life such as widowhood. Despite baseline differences, participants who completed the workshops felt they had enhanced their knowledge and were able to identify how they may be more responsive with money matters in the future.