New study shows men consider themselves better money-savers than women KossyDerrickBlog KossyDerrickEnt

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Saturday, February 4, 2023

New study shows men consider themselves better money-savers than women

New study shows men consider themselves better money-savers than women.

Generally, people would be motivated to learn about their finances to secure their future (62%), maximize the value of the money they already have (60%) and not have to rely on someone else (54%).

Conducted by OnePoll for BOK Financial, the survey found that the average person started saving money at around 24 years old and learned how to best manage their finances from their parents as children (23%) and putting their skills to the test when they first started living on their own (22%).

And they’d advise others to start even earlier — from the first time they receive an allowance or monetary gifts as a child (32%) and once they have a job that produces income (24%).

However, only 21% of Americans said it’s a high priority for them to save money from each paycheck, with men making this a higher priority (59% vs. 44%).

Consequently, one in 11 respondents don’t feel financially secure for the future. Respondents estimate that 30% of their paycheck goes to bills and other required monthly expenses like rent or car insurance and half said their monthly expenses are even more costly than that (49%).

We surveyed an equal measure of investors and non-investors in Austria, Germany, France, Spain, and Italy. Their answers revealed that, while women do not currently invest at comparable rates to men, there are reasons to be optimistic that the landscape is changing.

Here are some key insights from our survey data:

European women invest an average of €857.52 of their monthly income, with the majority investing €100–€499 per month. Austrian women appear to invest the most, averaging €999.37 per month.

European women invest 29% less of their monthly income on average than European men, who invest an average of €1,184.49 per month.

70% of women investors say they want to increase their investments over the next year. This is particularly true among Italian and German women, who report that they hope to increase their investments this year to an average of €1,735.82 and €1,438.97, respectively.

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