How Much Cash Women Really Have Saved — and Why It Falls Short

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More than 1 in 5 women have no cash savings at all — and even those who do may not have enough. A recent Fidelity study found that women have an average of $54,000 saved, compared to $62,000 for men. But with rising costs, economic uncertainty and the gender pay gap, that cushion might not go as far as you think.

In this “Financially Savvy Female” column, we’re chatting with Alex Roca, host of Women Talk Money at Fidelity, about why women save less, why $54,000 may fall short and practical steps to build a stronger safety net.

Why might women have less cash savings than men?

While the numbers show a gap — $54,000 for women versus $62,000 for men — these figures don’t tell the whole story. Many women face unique financial realities that can make saving harder. Caregiving responsibilities, career breaks and the persistent gender pay gap all play a role. Add rising costs and inflation, and it’s easy to see why building a cushion can feel like an uphill climb.

But here’s the good news: Women are taking action. More and more are prioritizing their financial well-being, creating emergency funds and planning for the future. With the right tools, resources and support, these challenges can be overcome — and every step forward matters.

Is $54,000 enough for most women?

It depends. A good rule of thumb is to save three to six months of essential expenses — things like housing, groceries, healthcare, child care and minimum debt payments. For some women, $54,000 might be plenty. For others, especially those with dependents or living in high-cost areas, it may not cover enough.

The key takeaway? Your [savings] should fit your life. Think about your unique circumstances — your family, your job stability, your cost of living — and build a plan that gives you peace of mind.

How can women boost their cash savings?

First, take a deep breath. You don’t need to save it all at once. The most common question I hear is, “Is it too late to start?” The answer is a resounding no. It’s never too late to take control of your money.

Our study found that nearly one-quarter of women have less than $1,000 saved for emergencies, and 1 in 5 have no emergency fund at all. If that’s you, you’re not alone — and small steps can make a big difference. Here are a few ideas:

• Automate your savings. Set up deposits from your paycheck or regular transfers to a dedicated account so you’re not tempted to spend it.
• Use windfalls wisely. Bonuses, tax refunds or unexpected cash can give your savings a boost.
• Choose the right account. A high-yield savings account keeps your money accessible while earning interest.
• Trim expenses. Review subscriptions and recurring costs — even small cuts add up.

Remember: Every dollar saved is a step toward security and confidence.

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