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Fewer than a third (31%) of women feel confident about investing, compared with more than two-fifths (44%) of men, a survey has found.
More than a third of women (34%) do not have any savings to invest, compared with 28% of men, according to the research launched to mark International Women’s Day.
Nearly two-thirds (63%) of women said they would not know how to start investing, compared with less than half (46%) of men, HSBC UK found.
HSBC UK’s head of wealth distribution, Rebecca Owers, said: “We need to make our money work harder, so it’s important to consider options like investing. Financial education is key here – by talking openly about money and learning the different options available, women can gain the confidence needed to take control of their financial futures.”
The value of money held in investments can go down as well as up. Some people may benefit from financial advice when investing.
Women who do invest are much more likely to invest in something their friends or family invest in, at 20% versus 8% of men, according to the research.
More than half (55%) of women believe people need to have a lot of money to invest, compared with 36% of men.
Many banks and other investments providers have features in their apps which simplify the process.
More than 2,000 people across the UK were surveyed by Censuswide in December 2023 for the research.
Marianne Oliver, operations director at investment platform InvestEngine said: “Women face a myriad of challenges when it comes to investing – not least having less money to put aside as a result of societal inequalities, from the gender pay gap, and often taking on more of the caring and financial responsibilities for either children or elderly family members.
“This is obviously going to have an impact on how frequently they invest and their risk appetite, both of which would affect their returns.”
Published: by Radio NewsHub
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