More than half (55 per cent) of women employees say they want to improve their financial literacy, compared to 52 per cent of all workers, according to a new survey by Intuit Canada.
The survey, which polled 2,600 employees and roughly 500 small- and medium-sized employers, found this gap in financial knowledge has resulted in many women facing difficulty in achieving goals such as saving for retirement (51 per cent), reducing debt (41 per cent) and balancing daily expenses (41 per cent).
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While more than half of all employees reported feeling financially stressed in the past month, this percentage jumped among women (61 per cent) and generation Z (71 per cent). Indeed, two-fifths (43 per cent) of women reported experiencing anxiety or depression due to money woes, while 36 per cent struggled with sleep and 21 per cent said it has strained their relationships.
Notably, 38 per cent of women said managing personal finances is more stressful than a job interview, compared to 34 per cent of men and 53 per cent of gen Z respondents. A quarter (27 per cent) of women said they’re uncomfortable discussing financial topics in social settings, compared to just 17 per cent of men who said the same.
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