The pesky, persistent gender gap in personal finance, in 4 charts
- Millennials and Gen Z in the U.S. are saving and investing more money than their older counterparts.
- However, there’s still a considerable gender gap in money management behaviors across younger generations.
In the wake of the pandemic, young consumers in the U.S. seem to be mindful about their financial future. Millennials and Gen Z are saving and investing more money than older Americans. Yet, there remains a considerable gender gap in money management behaviors among younger generations, according to a recent report published by payments firm Klarna.
While it’s encouraging to see that younger consumers are saving and investing at higher rates than the rest of the population, the visible gender gap within Millennials and Gen Z could potentially be a cause of concern for their long-term financial wellbeing.
(Note: Klarna’s report uses the following abbreviations to collectively refer to Millennials and Gen Z: YM = Young Men, YW = Young Women)
Young men are more interested in personal finance than young women
Klarna’s report covers 10,000 consumers across nine different countries in North America, Europe and Australia, with over 1000 participants representing the U.S. market.
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