Canadian Center for the Empowerment of Women and FinPowered aim to end the silent reality of economic abuse

TORONTO, November 9, 2021 / PRNewswire / – November is recognized as Financial Literacy Month, highlighting economic abuse. Cases of domestic violence in Canada nearly doubled during the pandemic, with 93% of victims also falling victim to economic abuse.

FinPowered and the Canadian Center for the Empowerment of Women (CCFWE) have partnered to provide free financial education to women across Canada and raise awareness of financial abuse and other forms of economic injustice in abusive relationships. .

According to CCFWE, economic abuse involves an abuser withholding money for food, clothing or other necessities. It can also include taking your money, controlling your access to financial information, not including yourself in family financial decisions, requiring an account for anything you buy, or forcing yourself to put your name on accounts and then destroy your credit.

A national survey conducted by Statistics Canada showed that only 1 in 3 women report having the financial knowledge and skills to manage their money and ensure their financial security. Svetlana Mamaeva, Miss World Canada 2020, and a Schulich School of Business alumnus, launched FinPowered with the goal of providing a free financial literacy program to help women become more financially independent.

FinPowered has hosted 85 free financial education workshops, reaching over 800 women, and will be featured in the Miss World 2021 pageant in December. The global platform, with over a billion viewers, will shed light on economic abuse and create a stronger international awareness of the importance of financial education for women.

“Raising women’s financial literacy and reducing the devastating effects of economic abuse on victims is a challenge, yes, but it is a battle that can be won,” Mamaeva said.

“Women from marginalized groups are at higher risk of economic exploitation due to systemic factors. Culturally appropriate awareness and education on economic exploitation is essential to protect women, ”said Meseret Haileyesus, CEO of the Canadian Center for the Empowerment of Women.

What is economic abuse?

Economic abuse occurs when a domestic partner interferes with employment, controls access to finance, refuses to contribute costs, or generates financial costs without their consent. Women from marginalized groups, including newcomers, refugees, racialized and Indigenous women, are at higher risk of economic exploitation due to other systemic factors.

Economic violence can have a profoundly devastating effect on women: it has an impact on mental health and prevents a woman from leaving an abuser, subsequently prolonging the period during which she is vulnerable. Those who experience economic abuse are five times more likely to experience physical abuse and other forms of gender-based violence, including sexual and psychological abuse. Additionally, when women experience economic abuse as part of coercive control, they are at increased risk of homicide (Surviving Economic Abuse 2019).

About Pageant Group Canada

Pageant Group Canada has been the leading producer of beauty pageants in Canada since 2013. They are the official national representatives and advocates of the Miss World Organization’s Beauty with a Purpose social initiative, which has given women around the world the prizes. means of making a social difference in their community for 70 years.

About the Canadian Center for the Empowerment of Women (CCFWE)

CCFWE is the only Canadian non-profit organization dedicated to ending economic abuse through education, policy change, mentorship and economic empowerment. Situated at Ottawa, CCFWE’s goal is to create national awareness of the impact of economic abuse by enabling survivors to improve their financial literacy and educating policymakers and financial institutions on how they can help. For more information, visit ccfwe.org and follow @CCFWE on social media.

SOURCE CCFWE

Mara R. Wilmoth