MAKE A DIFFERENCE | workplace culture / mental health / wellbeing

Record Number of Women Dealing With Financial Stress

March is Women’s History Month. So, the timing feels right to shine a spotlight on a report that highlights a crisis in the way women feel about their financial wellbeing.

Fidelity Investments, the American multinational financial services corporation, found that since the onset of the COVID-19 pandemic, women continue to report historic levels of stress surrounding their finances, job security and long-term savings. 79% of women are currently feeling the weight of that stress. This is up from 67% last fall.

Fidelity Investments also found that 7-in-10 women want to get more hands-on with their money; perhaps to have a greater sense of control of their own destiny.

The research shows women are looking to address both short-term priorities such as paying down debt and reviewing budgets to better control expenses, to longer term goals including increasing retirement savings and starting to invest outside of retirement.

To help them get started, the firm is hosting a month-long Women Talk Money virtual pop-up experience. The goal is to help women take a fresh look at their finances and build a healthier financial future. This includes exploring unique factors that women need to take into account and how they impact planning for the future.

You can read more about Fidelity’s Financial Sentiment Survey here.