Awaken- Help women in financial crisis

Aim

Wake women to their financial potentiel and prosperity through the teaching of financial principles and practical guide to holistic living.

What is our vision for this project?

 Our aim is to awaken women to their financial potential through the teaching of financial principles and practical guide to holistic living. This will allow them to lead a more fulfilling life built on financial stability.

Why is this project needed?

The Living Wage Foundation has shared vital new research on how women are being disproportionately impacted by the cost-of-living crisis. 

The first thing to note is that women are more likely to be in low paid jobs in the first place.  According to the charity, almost 60% of all jobs paid below the Living Wage are held by women. A fifth of women in work (20.4%) are paid below the real Living Wage, equating to roughly 2.9m people, but when it comes to men just 14% (1.9 million) are paid this little. 

 The Living Wage Foundation also conducted a poll among employees earning below the real living wage about how the rising cost of living is affecting them. The Life on Low Pay poll revealed that 42% of low paid women have fallen behind on household bills, compared to 35% of low paid men. Women are also taking more drastic measures to cope with the crisis. The poll found that 35% of low paid women have skipped meals regularly for financial reasons, compared to 29% of low paid men.  Finally, among those living with low pay, women are more likely to feel anxious (50% women compared to 38% men) and that their overall quality of life is diminished (48% women compared to 36% of men). 

 As the shock absorbers of poverty, women also bear the brunt of the physical and mental toll of debt and of struggling to make ends meet. We ultimately want to reduce stress and money related anxiety as it is unacceptable in modern Britain for working women to go hungry to make ends meet.

How will we achieve this?

We will organise a series of webinars on topics around budgeting, money management and how to improve financial stability.

 Having a good network of financial professionals and life coaches, we will call on their expertise to run sessions touching upon the following topics: 

• Setting goals and creating a blueprint for achieving those goals.
• Money-saving tips (reducing telephone bills, finding coupons, shopping around and price comparisons websites)
• Making a budget to cover all your financial needs and sticking to it.
• Techniques to plan how to shop on a low budget
• Paying off credit cards and reduce debt 
• Knowing your credit score and the impact your decisions have on them
• Taking care of your belongings—maintenance is cheaper than replacement— as a strategy
• Creating alternative income streams related to their passion (photography, braiding / hairdressing, Baking, Cooking, Childminding, etc…)
• Exploring opportunities with agencies that offer working from home schemes
• How and what to sell online / second hand shops, etc…
• Taking care of your physical and mental wellbeing amid this cost-of-living crisis

With the rising cost of living, we know that it will be difficult for many people but with your help, we intend to alleviate these struggles as much as possible by equipping women with the necessary tools to take concrete steps towards a peaceful and healthier life for themselves and their families.

Please donate and help us make a difference!

This project successfully funded on 20th September 2022