First let's get something straight: history hasn't made it easy for women to take control of their finances. The pay gap has been at a standstill on an average of 17 per cent for 20 years - and it's even bigger in some industries.
Prue Cameron, author of The Australia Institute's research paper, What's Choice Got To Do With It? says women are more likely to end up in retirement with far less savings and superannuation than men, putting elderly single women at a severe financial disadvantage.
"At a societal level, there is real inequality and that's not something that individual women can address," she says.
"I think it's really important if you're going to talk about what individual women can do to raise the point that it's not individual women's fault."
Women's murky working and financial history has resulted in a few common problems on an individual level: apparently we're waiting to meet the right person before starting any financial long-term plans and lack some amount of understanding - and as a result, confidence - in managing finances for ourselves.
So how can you take control of your finances on a personal level? Mind&Body shows you how to start: _
FOR YOUNG WOMEN
"When you're entering the workforce, it is the opportune time to set some bold goals for the future," says Zoe Lamont, director and founder of 10thousand girl.
"Time is one of the magic elements of compound interest - making wise investment choices within your superannuation is the single most amazing opportunity for young people."
Get your "save" on:
"The earlier you start to save the better," says James Baird, principal financial planner at JustInvest.
He suggests using a 50, 30, 20 per cent rule with your pay cheque, where 50 per cent goes to needs, 30 per cent to wants and 20 per cent is saved.
FOR NEWLY SINGLE WOMEN
Separate your finances:
"You need to take quite urgent steps to separate your finances from your ex's finances," advises Robert Drake, senior executive at ASIC's MoneySmart.
This may include closing off joint accounts, updating a rental agreement or seeking legal advice.
Talk to people:
"Use your friends, networks and other people in a like-minded situation,"
Ms Lamont says.
"Do things together so you have that sense of accountability."
Choose your financial planner carefully:
"The person your husband dealt with might not be the right person for you,"
Mr Baird says.
FOR SINGLE MUMS
See what you're entitled to:
"Checking with Centrelink as to whether there are any government benefits you're entitled to would be the first place I'd start," Mr Drake says.
Use your family as a catalyst:
Ms Lamont encourages single mums to use their children as a catalyst to get ahead - for example, thinking about their future education or ability to travel.
FOR WOMEN LOOKING TO RETIRE
Get advice:"Getting advice is important because you really do need a transition to retirement plan - whether it's from an adviser attached to your super fund or finding someone in your network who has an advisor they trust," says Ms Lamont.