Many women are assuming a greater role in managing their family’s money. Believe it or not, before the introduction of the Sex Discrimination Act 1975, women were unable to take out a mortgage without a male guarantor. Fast forward to 2018, and women are nearly as likely as men to take control of the family’s finances.
In many instances, women are now the prime movers when it comes to financial activities such as enquiring about mortgages or taking out credit cards. Research (Moneysupermarket) shows that 47% of women are the primary breadwinner, and are also responsible for the household bills.
WOMEN ARE NOW THE PRIME MO ER WHEN IT COMES TO FINANCIAL ACTI ITIES
Attitudes to money differ However, the latest Disposable Income Index shows that there is a marked difference in the level of confidence displayed by men and women when it comes to saving and investing. Less than one in three women say that they are very or extremely confident about managing their finances. When asked why they wouldn’t put money into a stocks and shares ISA, the most common reason given by women was fear of losing money, followed by a lack of full understanding of the product. It’s not surprising then, that a far higher proportion of men invest into stocks and shares ISAs than women. By comparison there is very little difference between the numbers of men and women putting money into cash ISAs.
Getting the advice you need If you’ve been put off the thought of investing money, perhaps because the products seem complex, or you have concerns about exposing your money to risk, then working with us could help you put in place effective plans for you and your family’s future.
The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.
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