Categories

Banking

Investing

Credit Cards

Loans

Retirement

Saving & Spending

Trending

Hubs

Financially Savvy Female

GEN Z:
The Future of Finance

Economy Explained

Retirement at Any Age
Advertiser Disclosure

Empowering women to take control of their finances.

60% of Women Seek Out Money Advice From Family and Friends: Why That’s a Good Thing

Women are more likely to talk about money with their friends and family than men, a new survey found. A recent GOBankingRates survey of over 1,000 American adults found that 60% of women sought out money advice from their family and friends over the past year versus just 49% of men. And while it's a good idea for women to also consult with professionals about financial matters (women are more likely to do this as well, with 21% of women versus 16% of men seeking advice from an accountant or financial advisor over the past year), there are a number…

Read More

A Focus On Your Money

Here’s What Financially Savvy Women Will Be Doing With Their Tax Refund in 2023

GOBankingRates surveyed over 1,000 American men and women to find out what they will be doing with their tax refunds this year, and found that the most common response among women was to put the money into savings (26%). Other ways women will be using their tax refunds include paying bills (22%), paying off debt (21%), treating themselves (6%), investing (3%), traveling (3%) and donating (>1%). But what's the best way for women to use a tax refund? In this "Financially Savvy Female" column, we're chatting with Cindy Scott, CFP with Schwab Intelligent Portfolios Premium, about the savviest ways to use this…

By Gabrielle Olya

2 Financial Biases Women Still Face — and How To Overcome Them

Women have made some notable financial strides in recent years. GOBankingRates' 2023 Women & Money survey found that nearly half of women (43%) are actively investing; the majority have neither student loan debt (57%) or credit card debt (43%); the majority (59%) are solely responsible for the financial decisions in their household; and 60% of women are financially independent. Yet despite their strong financial standing, many people still hold certain biases when it comes to women and money. Discover: 10 US Cities With Plenty of Jobs and Cheap HousingLearn: How To Guard Your Wealth From a Potential Banking Crisis With Gold In…

Gen Z Women's Top Financial Goal Is Saving for a Home: How To Do It

Homeownership is one of the rare instances where women are on the winning side of what's becoming a growing gender gap. Recent research from LendingTree shows that single women own more homes than men in nearly every state in America — and plenty more want to get in on the action. See: 7 Affordable Places To Retire If You Love the Great OutdoorsFind Out: 3 Things You Must Do When Your Savings Reach $50,000 Of course, not all single women are young and not all young women are single, but a new GOBankingRates survey of more than 1,000 women shows that the…

1 in 5 Women Regret Not Building Emergency Fund: How To Start

As the popular phrase goes, "hope for the best, prepare for the worst;" it's impossible to know when a financial crisis may take our bank account by storm and it's important to be prepared should tragedy strike.  Find Out: 5 Things You Should Always Pay For With CashSee: 3 Signs You're Serious About Raising Your Credit Score While everyone should build an emergency fund, it is particularly critical for women to cultivate these savings. Women are scientifically more likely to live longer than men and often take on the financial responsibility of being caregivers. They also face more expensive essentials…

Women and the Workplace

2 Factors Are Stopping Women From Climbing the Career Ladder, but You Can Overcome Them

The number of women in leadership positions in the American workforce has increased by just 1% in the past six years, from 36% in 2016 to 37% in 2022, a recent LinkedIn analysis found. The analysis also found that women are less likely to make the climb from entry-level roles to leadership positions, even in fields where they hold the majority of positions, like hospitality and administrative services. Suze Orman: 8 Urgent Tips for Surviving the Looming Recession Learn: How To Build a Financial Plan From Zero So what's holding women back? The analysis posits that two major factors are…

By Gabrielle Olya

Gender Wage Gap Narrowing for Gen Z: Will They Reach Equal Pay?

The gender pay gap has barely narrowed in two decades, a recent Pew Research Center analysis found. In 2002, women earned 80% of what men earned and in 2022, they earned 82% of what men earned. Read: 6 Investments Everyone Should Make During an Economic DownturnFind Out: How To Build a Financial Plan From Zero While these stats may be disheartening, there is one glimmer of hope — the wage gap has been narrowing significantly among young workers. The analysis found that among older Gen Z and younger millennial workers — those ages 25 to 34 — women currently earn 92% of…

Why Has the Gender Wage Gap Remained Stagnant for 2 Decades?

Women have historically earned less than men, and the gap in earnings between the two genders has barely budged over the past 20 years. A recent Pew Research Center analysis of median hourly earnings of both full- and part-time workers found that in 2022 women earned an average of 82% of what men earned — a very similar percentage to the 2002 results, when women earned 80% of what men earned. See: How Many Americans Have $100,000 Saved for Retirement? Learn: How To Build a Financial Plan From Zero So why is the gender wage gap not closing? And what…

How To Know Your Value at Work — and Ask To Be Paid Accordingly

Women are still not earning as much as their male counterparts. In fact, a recent analysis conducted by the Pew Research Center found that the gender pay gap has barely budged over the past two decades, with women earning 82% of what men earned as of 2022. While the onus is not on individual women to close the gap — there are clearly systemic issues at play — there are things women can do as individuals to ensure they are being paid fairly. Find Out: How Many Americans Have $100,000 Saved for Retirement?See: How To Build a Financial Plan From…

Relationships, Family & Finances

Why Dating Your Financial Opposite Could Actually Be a Good Thing

We all know that opposites attract, but we usually think of this as a bad thing when it comes to financial opposites. However, this isn't necessarily the case — a saver and a spender could make for great partners if they use their differences to their advantage. Discover: 11 Grocery Items To Buy at Dollar TreeFICO Figures: 3 Signs You're Serious About Raising Your Credit Score In this "Financially Savvy Female" column, we're chatting with Lindsay Bryan-Podvin, a certified financial therapist and a partner with MetLife's financial wellness app Upwise, about why dating your financial opposite could actually be a good thing. What are…

By Gabrielle Olya

Money Questions To Ask Your Partner

In this "Financially Savvy Female" column, we chat with YouTube creator and financial expert Aja Dang about the money questions women should be asking their partners and why asking these questions is so important. Talking about money can be awkward, and it can be an uncomfortable topic to broach for the first time when you're in a relationship. But making sure you and your partner are aligned when it comes to your attitudes about money and financial plans is important for the long term, so these are conversations you shouldn't be putting off. See: 5 Kitchen Appliances That Just Aren't…

Here’s How Much You Need To Budget for Child Care

Having children is a magical and rewarding experience. However, parenthood is not all rainbows and sunshine — it comes with significant financial responsibilities. Student Loan Forgiveness: Is a 'Forever' Payment Pause Possible? FICO Figures: 3 Signs You're Serious About Raising Your Credit Score One of the biggest expenses parents have to budget for is child care, which includes daycare, nannies and babysitters. Knowing how much to budget for these costs can help make parenting easier on your wallet.  Why Is Child Care Becoming More Expensive? According to a recent survey by Care.com, 63% of parents report child care has become…

30% of Gen Z Women Don't Make Money Decisions in Relationships

Conventional wisdom says that modern women have more control over their money than any generation that came before — but that might be a false assumption. As it turns out, young women in America are much more likely than their older counterparts to take a passive role in their household finances. I'm a Self-Made Millionaire: These Are the 6 Investments Everyone Should Make During an Economic DownturnSee: How To Guard Your Wealth From a Potential Banking Crisis With Gold A new GOBankingRates study of more than 1,000 American women found that Gen Zers ages 18-24 who are in relationships leave…

2023 State of Women & Money

What Is the State of Women & Money in 2023?

Women have been making major strides in the worlds of personal finance and careers. A recent LendingTree analysis found that single women now own more homes than single men. And in January, Fortune reported that women CEOs run more than 10% of the Fortune 500 companies for the first time in history. Still, the gender pay gap persists and women continue to be less likely to invest than men — even though data has shown that they tend to be better investors. $2,000 Quarter? Check Your Pockets Before You Use This 2004 CoinSee: With a Recession Looming, Make These 3…

By Gabrielle Olya

These Are the 4 Top Money Stressors for Women in 2023

GOBankingRates' 2023 Women & Money survey asked over 1,000 American women about their biggest sources of financial worry and stress — and the No. 1 stressor wasn't saving for retirement or paying for emergencies, but merely having enough money to get by on a day-to-day basis. Find Out: Why Stealth Wealth Is the Best Way To Handle Your MoneySee: How To Guard Your Wealth From a Potential Banking Crisis With Gold In this "Financially Savvy Female" column, we're exploring all of the top money stressors women face. We also chatted with Lisa Jones, managing director and financial advisor at Prime…

Impulse Shopping, Food Delivery & More: Young Women's Worst Habits

Would you be able to guess what women say are their worst money habits? Key findings in GOBankingRates' women and finances 2023 survey highlight financial habits that women said rank among their worst. Let's take a closer look at the money habits that top their lists, especially among young women, and tips for how women can break free of these habits. Do You Have a Money Question? Ask an ExpertDiscover: 3 Ways to Recession Proof Your Retirement Here are the bad money habits topping the list for young women's worst financial foes. Which Money Habits Do Women Consider Their Worst?…

1 in 3 Women Avoids Their Finances: Why This Is a Mistake

How would you describe your relationship with money? In GOBankingRates' women and finances 2023 survey, key findings revealed nearly one in three women avoids thinking about or dealing with their finances. Thinking about personal finance may not be as enjoyable as taking a vacation or enjoying a spa day, but it's necessary in order for women to establish a healthy relationship with money. Let's look at why it's a huge mistake for women to avoid thinking about finance and what they can do to make it easier to manage their finances. Do You Have a Money Question? Ask an ExpertMore:…

Managing Debt

Preparing for Retirement

Investing

All of our expert Financially Savvy Female advice in one spot.

Get the Free E-Book

Additional Resource Pages

Need Help With Taxes?

Get any of your tax questions answered by one of our Tax Column Experts

Learn more

Curious About Retirement?

Learn about you can do to do file for early retirement through our Retirement Guide

Get Started

More from the Financially Savvy Female

60% of Women Seek Out Money Advice From Family and Friends: Why That’s a Good Thing

1 in 3 Women Fears She Will Run Out of Money in Retirement

Two senior women

Women and Retirement by the Numbers

34 Best Money Tips for Moms

1pximage