A big warm welcome to Global Women new Chair Theresa Gattung, and new Board Members: Julia Raue, Karleen Everitt and Tanya Black!

Women Spend Less Than Men, Save More But Still Worse Off

New findings from our Partner ASB’s study of spending, saving and credit behaviour reveals that Kiwi women score higher in day-today wellbeing — but that’s not the full story.

Kiwi women are 2% financially better off than men, despite earning less than 9% on average. The report has revealed kiwi women to be resourceful with their spending, while men spend 8% more on average. Women are more likely to have savings accounts, and keep a higher amount in the account.

ASB chief executive and Global Women Member Vittoria Shortt said,

“While it was remarkable to see how resourceful Kiwi women were with less, having a long-term plan was fundamental to a healthy financial future.”

The story doesn’t stay there: the gender divide reverses when it comes to retirement savings. On this front, women have an average of 12% less when they draw out their Kiwisaver. Not only that, women rate their knowledge of investing far lower than men, and are more likely to choose risk-adverse investment funds.

 

Read ASB’s full findings on the statistics that set kiwi women apart financially below:

Click here for original article

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