A recent global study reveals significant gender disparities in financial anxiety levels between young women and men.
- Globally, 50% of women experience financial anxiety compared to 41% of men, revealing pressing gender-based financial challenges.
- In the US, women aged 25-34 report higher anxiety (45%) about finances than men, who are more optimistic.
- The UK shows a similar trend, with 67% of women feeling anxious about their financial situation, contrasted with 43% of men.
- Short-term financial planning is more prevalent among women (54%), while men (52%) tend to plan long-term.
A comprehensive global study has highlighted the pressing issue of financial anxiety, particularly among young women, who are disproportionately affected compared to their male counterparts. This investigation has uncovered that worldwide, half of all women are anxious about their financial status, a stark contrast to the 41% of men who express similar concerns. Such disparities underscore pervasive gender issues in financial wellbeing.
In the United States, the data indicates that 45% of women aged 25-34 are apprehensive about their financial conditions. This is significantly higher than the 39% of men in the same age bracket who echo these feelings. Conversely, optimism about financial future is more noticeable among men, with 69% expressing hope, compared to 58% of women.
The United Kingdom mirrors these findings, where 67% of young women report financial anxiety, contrasting starkly with the 43% of young men who feel the same. This trend is not limited to English-speaking regions, as Japan also reports similar gender disparities in financial anxiety levels.
The contrast extends to financial planning approaches, where over half of young women (54%) focus on short-term plans spanning three years or less. In contrast, a similar proportion of young men (52%) engage in longer-term financial strategies that exceed three years.
Grace Massey, Chief Marketing Officer at the commissioning body, emphasises the constraints women face in financial planning due to wide-ranging socio-economic barriers. Women globally continue to earn 24% less than men, and many aspire to family-oriented financial goals, leading to heightened anxiety and insecurity. “These findings highlight the gender pay gap’s role and women’s dual responsibilities in managing finances and family planning,” she noted.
Andrew Mulder, People Director, calls for employers to address these disparities, urging them to provide supportive environments to foster women’s financial security and optimism. By understanding these obstacles, organisations can tailor strategies to mitigate financial anxiety among female employees.
Addressing gender disparities in financial anxiety requires targeted organisational strategies and societal changes.
