In Australia, we tend to have a “she’ll be right” attitude towards many things, including money. From putting our holidays on our credit cards to not knowing what's in our super, this carefree spirit can sometimes be to the detriment of our personal finances. In fact, our average household debt is among the highest in the world, with massive mortgages and stagnant wages contributing to these statistics.
At the same time, Australia is a highly diverse country, with 27% of our population being first-generation Australians and 20% falling into the category of second-generation Australians. These diverse communities possess a variety of different attitudes to personal finance, whether that’s an aversion to debt, a focus on building generational wealth, or a fierce sense of financial independence.
We have a chat with five women of colour to see how their cultural background has influenced their attitudes towards money, and whether we can learn a thing or two from their experiences. Scroll on to learn more about their experiences.