Money-management program not ‘Worth It’: critics
A Manitoba government agency is spending up to $75,000 to teach women how to handle their finances, though critics say the I’m Worth It program is sexist and not worth anything near its cost.
“Statistics show us that there are women who want this information,” Finance Minister Rosann Wowchuk said this week after announcing the program, which has been launched by the Manitoba Securities Commission — a special operating agency of the province.
“Hopefully, it will result in protecting women and helping them make sound investments, improving their quality of life and preparing them better for retirement years.”
The program’s free online materials include several videos — each a few minutes in length — about Manitoba women of varying backgrounds, and their financial dealings pertaining to investments, savings, spending and such issues. It also involves a resource guide, an iPhone mobile application for “money-tracking” and what’s described as “lesson plans.”
Among the reasons for the project, said Wowchuk, is a finding that 47% of Manitoba women hold any sort of investment, compared with 62% of men.
But at least one female entrepreneur slams the effort as “an incredible insult” to women. Ari Driver, owner of Perfume Paradise in Winnipeg, said the program is “just sad, on all kinds of levels.”
“They want to tell me that because I’m not a man, I need advice on how to handle my money,” Driver said.
Colin Craig, regional director for the Canadian Taxpayers Federation, doesn’t buy that the “sexist” spending by the securities commission removes the province from responsibility for its cost.
“Just because the finance minister can’t balance her books, it doesn’t mean she should assume other women can’t.
“The government shouldn’t create programs like this for one gender, and not for another.”
Business owner Chelsey Koswin, however, said the program’s goals are well-intentioned and likely to be helpful. “I don’t find it insulting,” said Koswin, of Winnipeg’s My 2 Divas clothing store. “The government wants to help. And it’s just a fact that women spend their money not as wisely as men.”
Securities commission spokeswoman Ainsley Cunningham said it’s likely that not all of the $75,000 will be spent. She added that I’m Worth It has been spurred in part by focus group testing that shows financial “information gaps” necessary to address for women.
http://www.winnipegsun.com/2011/04/21/public-agency-spending-75000-to-help-women-manage-money
the winnipeg sandbox
