FEMME FINANCE

04.04.13

Survey: Young Women Don’t ‘Get’ Money

Shockingly, those polled were mostly older men. Coincidence?

Maybe they think we’re squirreling our savings away in pink plastic piggy banks. In a survey of 350 certified financial planners (300 of whom were men), more than half of the participants said women are less financially savvy. The group (which skewed old) also found that the young are less financially literate than those over 40. Previous reports have supported the claim that women and minorities are less informed than their white male counterparts, but as Newsweek and Daily Beast alum Nick Summers points out, this makes sense: “Groups that have historically had lower incomes (see: above) have had less money to invest, and therefore less incentive to learn about investing. Put another way, most people don’t learn a lot about cars until it’s time to buy one.” So maybe these investors should get off our backs until we’ve broken enough glass ceilings to actually have money in the bank.