According to consumer research nearly a 1/4 of our Aussie Ladies (22.4%) are passing the buck to their partner or other family members relating to financial issues. This is compared with just 6.6 per cent of men.
Women are also more inclined to suffer from debt-related stress than men, with a 1/4 of women surveyed admitting that debt causes them daily stress, compared with 14% of men.
RateCity.com.au spokesperson Laine Gordon remarked that more needs to be done to ensure that Australian women have the same opportunities as their male counterparts. “It’s troubling to learn that not only are women earning less, but many are feeling overwhelmed by money and consequently leaving the decisions about their finances up to their partners,” Ms Gordon commented.
“We want Australian women and men to feel equally empowered to make good decisions about their finances and take control of their money. But more needs to be done to make that a reality,” she added. Ms Gordon emphasised that the key is increasing women’s exposure to good financial information, as research shows that men spend more time per month informing themselves about credit cards, bank accounts and superannuation than women.
“We also know from previous studies that women are more likely to contribute a smaller amount to their savings each month and on average have a smaller super balance than men,” Ms Gordon noted.
“Today’s pay gap has serious implications for women, who typically live longer than men and are more likely to have time out of the paid workforce to care for children and elderly parents,” she said.
“This can put some women behind when it comes to being financially secure – both now and in the future.”
Of course this is only a 1/4 of Australia’s women; the rest of us are financially savvy and know where we are heading with our finances. At Blue Wave Property Strategies many of our clients are woman, and many of our couples seem to have the woman managing the finances. Which is great to see!
We are here to help in any way we can with your finances. If you are in control of your finances and want to know how you can begin to create real wealth through property then get in touch! On the same token if you are a little lost when it comes to finance and think you might need a helping hand we can also steer you in the right diection… we are here to help!
Call Bianca on 0414 205 659 or Chris on 0434 449 455 or drop us an email here to start the foundations to creating wealth!