Financial Capability and Financial Literacy among Working Women: New Insights
Improvements in the overall economy between 2012 and 2015 have enhanced working women’s short-term financial position. But their long-term financial status and levels of financial knowledge have changed very little.
Women today contribute more to the U.S. economy than ever before. Yet compared to men, they still face steep financial challenges. This study’s authors examined data from two national studies to assess how working women’s financial knowledge and behaviors have changed over time and in comparison to men. Their research incorporates short- and long-term measures of financial capability for working women overall as well as various demographic subgroups.
Using data from the 2012 and 2015 waves of the National Financial Capability Study, the researchers examined changes in 6,684 working women’s financial behaviors over a three-year period. The women studied range in age from 23 to 65 years old and are all employed either full or part time.