New findings from our Partner ASB’s study of spending, saving and credit behaviour reveals that Kiwi women score higher in day-today wellbeing — but that’s not the full story.
Kiwi women are 2% financially better off than men, despite earning less than 9% on average. The report has revealed kiwi women to be resourceful with their spending, while men spend 8% more on average. Women are more likely to have savings accounts, and keep a higher amount in the account.
ASB chief executive and Global Women Member Vittoria Shortt said,
“While it was remarkable to see how resourceful Kiwi women were with less, having a long-term plan was fundamental to a healthy financial future.”
The story doesn’t stay there: the gender divide reverses when it comes to retirement savings. On this front, women have an average of 12% less when they draw out their Kiwisaver. Not only that, women rate their knowledge of investing far lower than men, and are more likely to choose risk-adverse investment funds.
Read ASB’s full findings on the statistics that set kiwi women apart financially below: