There is a gender gap in financial literacy, which is a persistent problem for European societies. According to the European Consumer Payment Report (2020) women are less likely than men to feel confident about financial matters. OECD/INFE International survey of adult financial literacy (2020) exposed gender disparities in financial literacy compound women’s difficulties in securing their financial future and wellbeing and in participating confidently in economic and financial activities.
Institute of Women´s Policy Research (2017) as well as Austrian Survey of Financial Literacy (2019) exposed women have significantly lower rates of financial literacy than men. Reaching lower financial literacy than men, is leaving women at a potential disadvantage.
In addition, women also have particular financial literacy needs than men, because they earn less, save less, and live longer — but are still responsible for the same living expenses men pay. And since they live longer, they face additional costs, including more long-term and overall health care expenses. Overcoming these obstacles demands serious dedication to their financial knowledge.
In a nutshell
- A high statistically significant difference between men and women in financial literacy, showing women have significantly lower rates of financial literacy than men in Austria, Italy, Portugal, Lithuania, Slovenia, and Romania (OECD international survey of adult financial literacy, 2020,
- Women are less likely than men to feel confident about financial matters (European Consumer Payment Report, 2020).
- Gender disparities in financial literacy compound women’s difficulties in securing their financial future and well-being (OECD/INFE International Survey of adult financial literacy, 2020).
- Women have particular financial literacy needs than men because they earn less, save less, and live longer — but are still responsible for the same living expenses men pay.