Australian women lag behind European peers in managing their money

13 March 2023
| By Rhea Nath |
image
image
expand image

A survey of 18 global markets has found Australian women are more likely to seek help to manage their money than those in Germany, the US, and Great Britain.

Per the recent YouGov global survey on the future financial outlook, Australia scored high within the Asia Pacific region but ranked low on the global table in terms of financial literacy among women. 

Germany reported the highest number of women saying they do not need help managing their money better (68%), followed by Denmark (65%), Italy (63%) and France (62%), compared to 47% of women in Australia. 

Some one in five Australian women (23%) identified learning to grow their investments as an area where they required assistance. Other areas where they said they needed help were setting a budget and tracking expenses (21%), planning for future life events (17%), improving their financial condition (16%), advice on the best home owning interest rates and mortgages (15%).

15% said they needed assistance in planning for retirement. 

The YouGov survey spanned over 19,700 respondents, exploring the global outlook for household living standards, changes in disposable income, how consumers are dealing with and managing their finances as a result of the changes and how financial institutions can help and support. 

It found over half of women (52%) globally reported a drop in their disposable income in the last 12 months compared to 47% of males. 

Only a small proportion of both genders reported a rise in income, with men (17%) faring better than women (14%). 
 

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 5 days ago

Insignia Financial has made four appointments, including three who have joined from TAL, to lead strategy and innovation in its retirement solutions for the MLC brand....

18 hours ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 3 days ago