Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

The financial equality gender gap: women are less equipped to weather economic storms


News provided by

Intrum

02 Mar, 2023, 06:58 GMT

Share this article

Share toX

Share this article

Share toX

Women report a lower financial wellbeing than men and are less confident about their financial literacy. Ahead of the International Women's Day on 8 March, Intrum's European Consumer Payment Report points to an increasing gender gap in financial equality among European consumers.

STOCKHOLM, March 2, 2023 /PRNewswire/ -- Consumers across Europe are battering the impact of high inflation and rapidly increasing interest rates. And the cost-of-living crunch is adding extra pressure on women. Intrum's latest European Consumer Payment Report, a survey of 24,000 consumers across Europe, shows that women report a lower financial wellbeing than men across the board, with a significantly growing gender gap within this field compared to the 2021 survey. The research also shows that female respondents are less satisfied than men with their level of financial education and were less likely to correctly answer questions about how the inflation impacts consumers' day-to-day finances.  

With smaller financial margins, women are more sensitive to cost hikes

Intrum's data shows that women have less of financial buffers than men. Male respondents save more money than women on a monthly basis and women are overrepresented in the group saying they don't save any money at all. At the same time, close to one third of women (32 per cent, compared to 24 per cent of men) have less than one month's salary of savings available to cover an unforeseen event.

The survey points to a significant year on year growth among both men and women expressing that rising bills have an increasingly negative impact on their wellbeing. However, this trend is visibly stronger among women, with 62 per cent saying this in 2022, up from 47,6 per cent in 2021 (54 per cent in 2022 respectively 41,5 per cent in 2021 for male respondents).

"Financial aspects remain a central part of gender inequalities in Europe. Our research shows that women are more concerned than men about how the surging cost of living will impact their everyday finances. And unfortunately there are reasons for this greater bill anxiety. With clearly smaller financial margins and buffers on average, women are feeling a relatively stronger pressure of the sharply rising costs of living," says Anna Zabrodzka-Averianov, Senior Economist at Intrum.

Among consumers reporting to have failed to pay one or several bills on time during the recent year, just over half of female respondents say they did so because they did not have enough money (four in 10 for male respondents). This is up from 44 per cent for women, respectively 35 per cent for men in 2021. 

Women are less likely than men to ask for a pay raise

Following the surging costs of living, many consumers say they will change how they spend money. 67 per cent of women, compared to 60 per cent of men, say they already have or are planning to make changes to manage the impact of inflation and rising interest rates.

Looking at more long term financial equality, almost two thirds of the female respondents (66 per cent) worry they won't be able to afford a comfortable retirement. 57 per cent of male respondents recognise themselves in the same situation.

But despite relatively higher concerns about their financial future, women are less likely to ask for a higher than normal pay raise. Twenty-six per cent of women, respectively 35 per cent of men are planning to do so the coming year.

Financial education - knowledge or confidence?

Intrum's European Consumer Payment Report shows that men overall are more confident about their financial literacy. While both genders equally say they have the know-how to manage the basics of personal finances (excluding stock market investments and pension planning), 31 per cent of men respectively 22 per cent of women believe they can manage complex financial matters.

When tested on their knowledge of basic financial concepts, men were more likely to correctly answer a question about the impact of inflation. Fifty-one per cent of men got the question right, compared to 40 per cent of women. Similar differences were noted when respondents were asked about the inflation's impact on savings in a bank account, with 74 per cent of men versus 64 per cent of women answering the question correctly. This suggests men could be better equipped to navigate in the current economic environment.

But the gaps in these questions of knowledge also corresponds to a larger number of women selecting `don't know' from the list of response options. Research shows that women tend to disproportionately respond `do not know' to questions measuring financial aptitude, but often choose the right answer when this option is unavailable.1

"Our data indicates that the road to financial equality remains long. Getting financial education right for all Europeans, independently of their gender, is definitely one very important aspect which will help close the financial gender gap once and for all," says Anna Zabrodzka-Averianov.

For further information, please contact

Karin Franck, Global Media Relations & Public Affairs Director
+46 70 978 72 74
karin.franck@intrum.com

About The European Consumer Payment Report 2022

The European Consumer Payment Report 2022 is an instrument for gaining insight into European consumers' everyday lives, their spending and ability to manage their household finances on a monthly basis. The report is based on an external survey conducted by FT Longitude in 24 countries in Europe. A total of 24,011 consumers participated in the 2022 edition of the survey. The fieldwork for the study was conducted between July and September 2022.
Download the full report

1https://www.unbiased.co.uk/news/financial-advice/will-there-be-a-uk-recession-in-2022-what-it-could-mean-for-you 

The following files are available for download:

https://mb.cision.com/Main/8612/3726213/1886210.pdf

IAB_2023.03.02_ECPR The financial equality gender gap

https://news.cision.com/intrum/i/anna-zabrodzka-averianov--senior-economist-at-intrum,c3150695

Anna Zabrodzka-Averianov, Senior Economist at Intrum

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.