A NerdWallet survey shows that women are less likely than men to have gotten a raise in the last year and some are dependent on their partner financially. Here are a few ways women can put themselves in a better money position this year.
The article from NerdWallet highlights the financial disparities between men and women based on a survey conducted in March 2023. It reveals that women are more likely to live paycheck to paycheck, with 49% of women compared to 42% of men reporting this struggle. Women also tend to have less in emergency savings, with 52% having less than three months' worth of expenses saved, compared to 45% of men. Additionally, women are less likely to invest, with only 29% of women investing outside of retirement accounts, in contrast to 44% of men. The survey also notes that women are more likely to feel behind on their retirement savings, with 55% of women feeling this way compared to 46% of men. These findings underscore the broader financial insecurity and lower investment participation among women, influenced by factors such as the gender pay gap and differing financial priorities.