Financial inequality continues to be an issue for many women. They are more likely to suffer from financial stress than men, and more women lack confidence in their financial capabilities. Women are also less likely to make long-term financial plans and to actively engage with their super or invest in the stock market.
The outcome is that some women are struggling financially, and a significant minority feel trapped in their circumstances. This leaves them less confident to make necessary life decisions like changing jobs or leaving bad relationships.
The good news? Women are highly motivated to change their circumstances and achieve financial independence. But they will need help to do so.
Lauren Jackson explores some of the outcomes of our study which indicate that financial advice positively impacts older women’s lives. She also explores some of the different ways of differentiating and tailoring communication and service offers to better suit women.