Recently, the American Institute of CPAs (AICPA) conducted a survey to gauge the country’s perception of their financial situation. According to their findings, women are noticeably more concerned than men about their personal finances.
For their survey, the AICPA asked a sample of 2,000 U.S. adults how they felt about their financial situation over the past 12 months. According to their results, women were more likely than male respondents to report negative feelings, including cautious, uncertain, stressed, worried, anxious, frustrated, and hopeless. In contrast, men were more likely to say they felt optimistic, positive, and content. Additionally, men were more likely than women to report taking action on their finances at higher levels, with more men saying they started or added to an emergency fund and increased funding to a retirement account in the last 12 months.
“The responses reveal some stark differences between men and women. Clearly, the financial stress levels are not the same,” says Pam Ladd, senior manager of personal financial planning at AICPA. “Addressing uncertainty is important for women and their financial advisors to strategize around to build confidence and financial well-being.”