Over Half of Women Are Stressed About Money—But There’s a Proven Solution

Around 58% of women stress about finances multiple times a month, but data show there are several techniques proven to ease money woes.
Written by Claire Beaney
Reviewed by Kathleen Flear
Nearly 3 out of 5 women (58%) worry about their finances multiple times a month, according to
new research
published by HerMoney and the Alliance for Lifetime Income.
The State of Women 2022 study found that 28% of women worry at least several times per week and 14% worry every day. Only 10% think they have complete control over financial matters.
Even among the highest earners, those with an annual family income of more than $200,000, 48% worry about money at least three times per month. Younger women and single women feel more stress than their peers.
, the insurance
super app
, is breaking down these numbers below—and going through some of the strategies recommended to reduce financial worries among women.
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Millennials & singles worry about finances more

Well over half of the millennial women surveyed—64%—worry about their finances regularly. This is more than Gen Xers (60%) and Boomers (51%).
Likewise, almost two-thirds (64%) of single women stress about their financial status at least several times per month, compared to 56% of married women. One in every 5 single women (19%) worries about finances on a daily basis, compared to only 11% of those in a relationship.
MORE: How to get cheap car insurance for young drivers

What are the most common financial stressors?

When asked what bothers them the most about money, one-third (34%) of women cited competing financial priorities, and roughly the same number say not having enough money saved (32%) frequently stresses them out.
Younger women believe not earning enough is their main financial stressor, while after age 55, women's main fear is not having enough saved up and struggling during retirement.
Health care costs (54%) and running out of money (52%) are the two largest concerns, followed by the effect of market fluctuations on investments (29%) and obtaining long-term care later in life (28%).
MORE: 8 easy tips for saving money on car insurance

Knowing more leads to less financial stress

Studies point to knowledge and education as the main keys to reducing financial stress among women.
Those who say they understand how to build and maintain wealth and are confident in their retirement plan worry less than those who believe the opposite.
  • Only 45% of women who know what actions to take to grow money worry about finances frequently, versus 50% who don’t know what to do
  • 45% of women who know how to make money last through retirement worry multiple times a month, versus 70% who don’t believe they can 
This research also highlighted the top three financial boosts that would alleviate some of the stress surrounding finances for women:
  • Achieving a significant investment amount (43%)
  • Receiving a pension or having investments that will provide a steady income for the rest of their life (40%)
  • Earning a salary increase of 20% (40%)

Saving money with Jerry

Becoming comfortable with your finances, learning how to save, and preparing for the future can be pretty daunting. It’s certainly not easy! Expenses related to your home, your family, and your car can pile up and create more stress over time.
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