80% of our wāhine rate their financial wellbeing moderate to very low

The Financial Services Council released research today that looked at women and their financial wellbeing.

Overall, the report found that the women surveyed felt less confident about their financial wellbeing, investing knowledge and experience, and retirement than male respondents. 

However, it also showed that women are getting on board with new and emerging technologies and are more likely to actively seek out ethical investments. 

The research findings

The research had five key findings:

1. Over 60% of women worry about money daily, weekly or monthly.
2. 62% of women don’t feel prepared for retirement, however money worries decrease with age.
3. Over 80% of women rate their financial wellbeing moderate, low or very low.
4. 60% of women rate their investing literacy low.
5. 32% of women use or plan to use micro-investing platforms.

The FSC held an online event to launch the research report, with a panel discussion that delved deeper into the report.

Ana-Marie Lockyer, Ann Morrell, Cat Emerson and Sarah Kelsey each gave their personal and professional insights into both the challenges and opportunities facing wāhine in Aotearoa, how young people are driving an interest in investing and small actions each of us can take to grow our own financial wellbeing. 

The kōrero kicks off at 12:40:

About the research

The research was conducted via an online survey developed and hosted by CoreData. Data was collected between 15 April and 26 April 2021. A total of 2,035 valid complete responses were collected, which formed the basis of the analysis and the report.

The sample is representative of the New Zealand consumer population in terms of age, gender and income based on the latest Stats NZ data. According to Stats NZ in March 2021 there was an estimated resident population of 5,116,300. As this survey only included respondents aged 18 years old or over, the estimated resident population of the sample is 3,944,700. The purpose of this survey was to understand how financially confident and financially well New Zealanders are.

You can read the full research report here (we promise it's not boring!) 

For media enquiries, please contact: clarissa.hirst@fsc.org.nz