My Money Conversion Kit | Adjournment & Response

My Money Conversation Kit – Kaushaliya Vaghela MP

MY MONEY CONVERSATION KITThe Andrews Labor Government has launched the My Money conversation kit which is helping women, across Victoria, with starting conversation about money.I believe that by building confidence in money management, we can help reduce economic inequality between the genders.I have requested Minister for Women, the Hon. Gabrielle Williams MP to visit an organisation in my electorate to provide an update on how women from my electorate can benefit from this initiative.#KaushaliyaMP

Posted by Kaushaliya Vaghela MP on Thursday, 3 October 2019

Ms VAGHELA (Western Metropolitan) (16:03:58): My adjournment matter is for the Honourable Gabrielle Williams, the Minister for Prevention of Family Violence, Minister for Women and Minister for Youth. My adjournment relates to the minister’s portfolio responsibilities for women. The Andrews Labor government is helping improve the financial security of older women by supporting a free financial wellbeing kit that will be available across the state. The Labor government provided the Women’s Information Referral Exchange with $200 000 to develop and pilot workshops across Victoria to better understand the financial needs of older women. The My Money conversation kit was developed as a result and was launched last month. The kit includes a guide with questions to uncover individual attitudes to money, tips on having difficult conversations and advice on financial abuse as well as links to useful financial and government services. It includes an organiser to bring all financial information together in one place. Building confidence in money management helps reduce economic inequality. These skills are particularly important for women as they tend to live longer, earn less than men and face financial hardship as they age. The My Money conversation kit aims to help build women’s confidence to have conversations about money with family and friends, build financial literacy and grow more financially secure. The action I seek is for the minister to attend a community organisation supporting women in my electorate of Western Metropolitan Region to provide an update on how women from my electorate can benefit from this initiative.

RESPONSE:

Ms WILLIAMS (Dandenong—Minister for Prevention of Family Violence, Minister for Women, Minister for Youth) (18 February 2020):

I am pleased to provide an update as to how senior women and gender diverse people can benefit from the My Money Conversation Kit. The Conversation Kit supports senior women and gender diverse people to safely and confidently engage in conversations about money with family, friends and professionals. The Kit provides information to help women to better understand their financial situation and engage with financial services or make financial decisions more confidently. It can also assist social service and financial service workers to better support their clients’ needs and understand the difficulties their clients face in building and maintaining financial capability.

Since developing and releasing the My Money Conversation Kit, Women’s Information Referral Exchange (WIRE) has received a number of requests from social service workers to assist financial counsellors, community workers and allied health professionals in providing support to their seniors cohort. Thousands of kits have already gone to organisations located in the western metropolitan region including Yarraville Community Centre, Laverton Community Integrated Services, Djerriwarrh Community and Education Services (Melton), Wyndham Community and Education Centre and Wyndham City Council.

I will look into opportunities to visit these and other organisations supporting women in Western Metropolitan Region.