Planning Is Essential
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Women and money Planning is essential reliab_le form of savings, working towards changing the by Bitsy Bateman Townson said, due to a good financial situation for women. In Why should women do interest rate and the fact they can the second half of the evening's financial planning? be cashed at any time without events, Lynne Markell spoke on Because understanding and penalty. Another positive aspect the history of the Ottawa efficient planning of your own to CSBs is that they can be Women's Credit Union. The financial affairs may provide the bought a bit at a time through a impetus for the credit union key to individual success, payroll deduction plan. comes from the Ottawa Tenants' Council, which has traditionally according to economist Monica Coping with discrimination Townson, formerly of the federal been concerned with the Advisory Council on the Status Perhaps the most difficult area cost/ conditions of housing, of Women and co-author of the financially for women is credit, especially public housing. A recently-published Canadian Townson said. "Horror stories meeting was held to discuss the Woman's Guide to Money. abound. Working women who possibility of a credit union and Planning not only contributes couldn't get a loan without investigations began. to financial success, but also to getting a man to cosign and it Through LEAP grant funds, a self-esteem and personal could be any man-sometimes a feasibility study was made autonomy, Townson told the· teenaged son or old-age-pension possible. The Credit Union's audience at an evening about father. Women whose credit Advisory Committee suggested women and money organized by ratings were downgraded when that the form of financial the Ottawa Tenants' Council for they married because their institution be a credit union, a Public Housing in May. husbands were bad credit risks. financial co-operative that is Quoting from the report of the Or married women with full-time open only to women, of all ages. Royal Commission on the Status paid jobs whose credit records The primary objective is to of Women, she said, "Quite disappeared completely on establish a financial institution clearly most of the_ economic marriage because the file was for women, especially low power is in the hands of men. then kept under the husband's i n co me women, and the Traditionally, the economy has name." secondary aim is to educate and Equal credit guidelines and train women in the area of been a man's world and practice Monica Townson today P"'rpetuates that tradition. human rights acts, federal and finanr:e and credit unions. Such a world provides fertile provincial, ban discrimination in Currently the Ottawa grounds for nourishing the belief access to services, including Women's Credit Union people that women's inferior financial credit, on the grounds of sex and are gauging interest in their through with a formal 232-2677. position is synonomous with an marital status. A lender is only project by distributing a application for a charter. The Canadian Woman's Guide - incapacity to make important interested in your ability and questionnaire/ brochure. If Anyone interested in the to Money by Monica Townson financial decisions. And one of willingness to repay, Townson enough interest is shown -ouawa Women's Credit Union and Fredrick Stapenhurst the unfortunate consequences of said. Discrimination can result Markell says that a response of can contact Aline Akeson or (McGraw•Hill Ryerson Ltd.) will such a long-standing belief is that from the credit granter's about 500 interested women Lynne Markell at the Ottawa be reviewed in the next issue of women themselves fall victim to assessment of these criteria. would be enough-the group will Tenants' Council, 346 Frank St., UPSTREAM. it. It is not surprising then that Townson suggests several form a board of directors and go Ottawa, Ont., K2P OYI, (613) many women lack confidence in options if you feel you have been their ability to handle financial unfairly treated in applying for affairs." credit. Townson went on to point out Banks-discrimination is that more women are taking contrary to official chartered more responsibility for their bank policy but branch managers lives, including financial and loans officers have a lot of responsibility. leeway in granting Joans and Women are waking up to the many are still not carrying out fact that "independence is spelled official bank policy. first, tell the M-0-N-E-Y," she said, "and manager of the discrimination. If money is power." you get no response, contact the Taking a woman's perspective, district manager or, if that fails, Townson discussed some basic the head office of the bank. If Federal committee to monitor concerns in financial planning. none of these people rectify the Life insurance needs for a woman problem, call the federal Human • should take into account the Rights Commission. TV sexism people who are dependent on her Department stores-most of income/services (i.e. housework, these stores come under provincial jurisdiction so you can Sauve told her advertising The members of the committee child care), and who would care by Pat Daley for them if she dies. A woman contact your provincial human audience, pointing to a CR TC are: who could need to have her rights commission or the If you're tired of seeing women report which shows that "59 per Stella Baudot, Chairperson income replaced should ask how Ministry of Consumer and on television with their heads cent of Canadians-both male a public relations specialist with long this would be for, how much Commercial Relations in stuck in ovens, wishing they'd and female-agree that a lot of the Consultative Committee on money would come from savings Toronto (or your provincial married Mr. Muscle, take heed. television advertisments are the Status of Women in and pensions, and does she need counterpart). The federal government has insulting to women." Montreal,· member of the to supplement this buying extra Master Charge or Chargex established a new {;Ommittee to "Statistics like that contain the Federation des femmes du protection. contact the Canadian Human monitor sexist stereotyping in the seeds of a major revolt. So it is in Quebec. Pension planning has never Rights Commission because electronic media which, the best interests of advertisers Yolande Bonenfant-a radio been so critical for women in these cards are sponsored by the according to former federal com themselves to accept the reality of script writer for more than 13 Canada, Townson . said. The banks. One cautionary point: munications m1mster Jeanne change." years, ~elegate from Canada to average amount received by you must have your own credit Sauve, will "through regularly The' new monitoring commit the United Nations in New York female pensioners covered'by the record in order to be granted publishing the results of its tee grew out of the International in 1973. Canada Pension Plan in January credit. analysis ... empower the Canadian Women's Year conference in Elizabeth Percival-psycho 1979 was $83.64 a month, she In order to establish a credit public to bring pressure on Mexico City in 1975. A world logist, chairpersorl of the Prince ·said. In light of the vesting law history for yourself, you can advertisers and broadcasters." plan of action to be carried out Edward Island Advisory Council that you are not eligible for any apply for a charge account at a Announcing the creation of over the next decade was on the Status of Women, benefits from employer local department store; if you the committee at the Second declared then, Sauve said. The president of the Canadian contributions to a pension plan drive, apply for a credit card International Advertising Show result in Canada was the federal Research Institute for the unless you stay with a company from a gasoline company; you in late April, Sauve said, ''The government's plan of action for Advancement of Women. for at least 10 years-and the can take out a small loan from a government's concern is based on women, released this spring, of Mary Jane Palmer-director high rate of job turnover for bank you deal with regularly and the view that the use of sexist which. this committee is part. of Women's Creative Services for women, women can provide then pay it back in regular stereotyping in advertising is an The seven-woman committee Vickers and Benson for 13 years, additional retirement income for installments. impediment to the changing will have its independence more than 20 years experience in themselves by contributing to a Townson ended her informa status of Canadian women and guaranteed, she said, "by the advertising. Registered Retirement Savings tive presentation with the that the negative portrayal of stature of its members and ... by Gail Newall-a member of the Plan. If you can afford it, positive advice that to cope women is becoming increasingly its right to publish what it pleases College of Nurses of Ontario, contribute up to the maximum effectively with financial offensive." without reference to either the several years experience in social allowed, she said. planning, be informed, read, take Sauve also said that the minister or the department of work. Saving money should lie courses and get together with Canadian Radio-Television and communications. Gaby Marchand-account considered in financial planning other women. Telecommunications Commis "I have confidence that the ant for Expo Mart Inc., but Townson advises taking "If we are ever to achieve full sion (CR TC) has started to committee, by providing avenues participated in .a 1974-75 study "liquidity," or savings that can equality in this society, we must develop guidelines and standards for translating individual on day care centres for the quickly be turned i9to cash, into come to grips with the subject of to encourage the elimination of concern into public pressures, Federation des femmes du account.