Yes, women have a long way to go to reach gender pay equality, but let’s share some positive facts about women. When it comes to saving and investing money, we are pretty dam good. According to Finder’s recent survey, women are more responsible when it comes to saving and female investors get higher investment returns than their male counterparts. Of course, there are some areas we need to change – and fast. So, while we are good with saving and investing, women still have less cash savings and superannuation and we are carrying more debt from student loans and buy now pay later and take longer to repay debt. Take a look at the results and see where you fit into the piece of the puzzle and focus on being more financially savvy moving forward.
Findings from Finder’s IWD Survey that women can be proud of:
- Women are more responsible with their money when it comes to saving and spending.
- Women have higher average credit scores and are less likely to be rejected for products like credit cards, loans or insurance.
- Female investors get higher investment returns than their male counterparts, but women are less likely to start investing in the first place.
- Women have less in cash savings and superannuation than men and are more likely to retire without super.
- Women are more likely than men to carry some form of debt, particularly when it comes to student loans and buy now pay later.
- Women have less credit card debt than men, but it takes them longer to pay off their debt.
- Financial stress disproportionately impacts women, particularly when it comes to grocery bills and rent or mortgage payments.