You only need to briefly consult groups dedicated to personal finance on Facebook to come across testimonials from women who can no longer make ends meet. They have cut as much fat as possible, they swear, but with children and inflation, their monthly budget is in deficit.
Often these mothers have just separated, sometimes they are too ill or busy looking after their children to work full time. The causes of their financial stress vary, but the stories are always unfortunate.
What is touching is that many women show solidarity and empathy. “I understand you, I went through that too after my separation, but you’ll see, things will fall into place,” we inevitably read. This is the sweet side of social media. We are also quick to share tons of tips and advice for reducing bills and others for increasing income. “Have you thought about going back to school? », “Don’t forget that family allowances will increase! »
When we know that 46% of working Quebec women have an annual income of less than $30,000, we should not be surprised by their financial precariousness. Their balance can quickly shift.
It must also be said that in 77% of single-parent families, the parent is… a woman and that this woman earns on average $1,091 per week, which is significantly less than men ($1,514) in the same situation.
This is not to say that men never find themselves in financial binds. But it is clear that certain factors are particularly disadvantageous to the financial health of women.
Moreover, last Monday, the Nobel Prize in Economics was awarded to Claudia Goldin, a 77-year-old American economist who has devoted her career to persistent wage inequalities between the sexes. His work worthy of a detective, according to the jury, made it possible to conclude that it is at the birth of the first child that the gap largely occurs.
What is Lise Watier doing in all these stories?
I contacted her to talk to me about the financial autonomy of women, an issue that is so close to her heart that she created a foundation whose raison d’être. ” It is important ! Without financial independence, you have no freedom of choice, which means you have to accept the unacceptable,” she told me during a friendly virtual meeting.
To “give fishing lines rather than fish”, his foundation created the “S’Entreprendre” program which accompanies the women in three ways.
The most popular route offers training and even microcredit for starting a business. The second offers financial assistance to return to school and obtain a diploma in a reasonable time, which is not easy when you also have to take care of children and work. The third path revolves around the search for a better job.
In all cases, the cohort begins by following eight weeks of workshops to develop their professional potential, their confidence, and discover their possibilities. This part makes all the difference. It must be said that we still lack models to convince ourselves of our possibilities. Only 5% of Canadian companies listed on the stock exchange are led by a woman. As for administrative positions, 27% are occupied by women, according to the Financial Markets Authority.
Next spring, at the end of this school year, s’Entreprendre will have helped 1,000 women with its program adapted to women’s realities, both in content and in the way of teaching. One of them particularly struck Lise Watier. “She raised six children, she is financially independent now. She even employs two of her children who are autistic. She bought a farm after completing her course. »
This woman is Dominique Nadeau. The 48-year-old entrepreneur is unequivocal: “everything” has changed in her life thanks to the Lise Watier Foundation program, which she discovered while Googling. After having been a “stay-at-home mother of six children” for 20 years who lived off her partner’s salary, she wanted to have “the pride” of generating an income. Mission accomplished. His herbal tea business Les Fées Sorcières allows him to earn a living and employ three other people.
If it worked, it’s because the business plan she created during her training really took into account her reality as a mother.
PHOTO PROVIDED BY DOMINIQUE NADEAU
Dominique Nadeau, graduate of s’Entreprendre and owner of the company Les Fées Sorcières
As a woman, you have to juggle several balls. The mental load is great. In my previous plan, which didn’t work, my children’s place was not planned. You have to be there for dinners and homework. You can’t just start a company and say you’re going to work 90 hours a week.
Dominique Nadeau, graduate of s’Entreprendre and owner of the company Les Fées Sorcières
Other women need a financial boost to return to school and improve their situation. Sometimes, a few thousand dollars is enough to change… two lives. Marie-Lise Andrade, CEO of the Foundation and daughter of Lise Watier, told me the story of a mother who experienced the street and who wanted to get out of it. With financial assistance from the Foundation, she completed a baccalaureate. After earning her master’s degree, she won two scholarships for her doctorate. And now she is teaching at the University of Sherbrooke while finishing her studies. “We helped this woman and her daughter too…” she says, rightly so.
At a time when financial stress is reaching unprecedented heights in many households, it’s good to know that there are lifelines and a network of women ready to help others with a long-term vision.