A new report from TSB has found that more than a third (35%) of brits have low or no confidence in their financial abilities.
On average, women report lower confidence than men. 42% of women report no or low confidence levels, compared to 27% of men.
They also found that age played a big role in people’s money confidence. 57% of the 18-24 age group had no money confidence, compared to 72% of people aged 55-64 who had high money confidence.
Out of 10, how confident would you say you were with money? (1 being no confidence, 10 being extremely confident)
Have you found your confidence has increased as you’ve got older?
I am 10/10 on money confidence and much of that comes from working in finance.
It’s interesting that women report lower confidence as some research suggests they are more likely to take decisive action to control their finances, in particular around debt, than men.
I think historically women were often left out of important financial decisions and conversations around money. (Going way back there was a time they couldn’t even inherit property, they didn’t have the right to earn and keep their own income, couldn’t have their own bank account etc etc)
Although we’ve come a long way, I guess there are still gaps to close!
I believe there is also research that suggests women are better investors - they take fewer risks, and when they do they’re more carefully considered. Although the % of women who actually invest is still pretty low!
Depends on the culture. In some, women were in charge of the household entirely, including money
I think we’ll never close them because people are fixated on 50/50, when in reality it doesn’t matter; we should be aiming for the freedom of that choice to be made. In the same way primary school teachers are skewed towards women, we don’t necessarily need a 50/50 split in everything.
That’s the downfall of trying to make things “equal” people want equal numbers, not equal opportunity
Hmm, doesn’t this simultaneously rule them out from being able to strike gold by a completely poor investment. Like that American guy who sent bed warming pans to Jamaica (a hot country) and they sold but only because Jamaican were using them to stir molasses
He also sold cats, herded stray ones and shipped them off. People bought them to get rid of rat infestations
