Improvements in the overall economy between 2012 and 2015 have enhanced working women's short-term financial position. But their long-term financial status and levels of financial knowledge have changed very little.
Summary
Women today contribute more to the U.S. economy than ever before. Yet compared to men, they still face steep financial challenges. This study's authors examined data from two national studies to assess how working women's financial knowledge and behaviors have changed over time and in comparison to men. Their research incorporates short- and long-term measures of financial capability for working women overall as well as various demographic subgroups.
Key Insights
- While the percentage has decreased since 2012, 33% of working women still can’t meet an unexpected $2,000 expense within 30 days.
- Working women who retire early, have children, or are widowed, divorced, or separated all show signs of short-term financial distress.
- In 2015, 75% of working women held long-term debt, with many believing they carry too much debt.
