Article:
Financial literacy awareness is at the core of development, and to ensure its uniformity and wholesomeness, it needs to be equal and universal. However, the scenario isn’t as it ought to be because of a wider gap in financial literacy between men and women. Denmark, Norway, and Sweden rank together as the top nations with financial literacy among women, followed by the Netherlands and Germany, Australia and New Zealand, Singapore, Hong Kong, Canada, and other nations.
A good read across different sources revealed a few surprising facts – contrary to popular belief, the gender-based pay gap doesn’t exist in developed nations, but it does. Fidelity’s ‘2025 Financial Resolutions Study’ found that around 61% women feel that they are financially doing better this year, but the ‘2025 P-Fin Index’ asked financial literacy questions to women in the US and found that only scored between 49 to 50%. It puts them significantly behind men in financial literacy, and probably this explains the reason behind the pay gap. Among the financially aware women, the top three identified goals were increasing their savings, clearing debts, and checking their expenditures, which are quite basic.
There’s more hope than despair because a host of activities and awareness drives are being undertaken to boost financial literacy among women and make it an inclusive process. The Citizens Financial Group announced $2.6 million for financial education grants and volunteer support for ongoing programs. Different initiatives are also taken to increase stock market awareness among women entrepreneurs. A good number of fintech companies are coming forward with products that encourage financial independence.
Celebrities like Tiffany Aliche, Angel Reese, and Magic Johnson are throwing their weight behind boosting financial empowerment and literacy among women through social media, financial literacy programs, and other unique avenues.
The good news is that financial literacy among women is improving worldwide.