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Young women have better financial knowledge than men, according to a study



July 9, 2018 09:45

Photo : Freepik

Despite the fact that they are uncertain, the women from the generation Y (milléniaux) have better financial knowledge than men of the same generation, indicates a survey from Market Strategies International.

Indeed, while only 17% say they completely understand the terms related to finance and insurance, 33% were able to match the terms to their definition. In contrast, 34 % of men say they fully understand these terms, but only 24 % of them were able to link the terms to the definitions.

“Men generally have greater confidence in their knowledge. It is not surprising that the percentage of men who reported completely understand financial terms is double that of women. What is interesting is that when asked to demonstrate their knowledge, women milléniales perform better, ” says Christopher Barnes, director of the financial services division at Market Strategies.

Different sources

The survey also reveals that the sources where women and men derive their financial knowledge differ. The first prefer to ask their friends, families and coworkers, while men are turning to YouTube.

“Historically, women were getting lower grades than men in terms of financial knowledge,” added Mr Barnes. But while the milléniaux repel the marriage and take decisions with a major financial only, as the purchase of a house and the management of student debt, it is clear that the women from the Y generation to become proactive about their financial knowledge. “

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