Third of women unable to afford every day spending during a recession
Welcome to the bi-weekly update (#217) where we dive deeper into key topics, themes or issues specific to women and their lived experience.
According to research by Quilter, the cost-of-living crisis has impacted women’s finances and their ability to withstand the potential impacts of a recession, as reported by FT Advisor.
Around 31% of women said they are in a worse position financially than this time last year. Comparatively, just 25% of men feel the same way.
Previous research from Quilter revealed that one in five women (21%) felt they were worse off financially at the end of 2021 than they had been the year prior, compared to 18% of men.
It is not surprising, looking ahead to this year that women are expecting to face greater financial pressures than men.
One fifth (21%) of women said they do not expect to have any disposable income available in 2024, compared to 17% of men.
The government’s Women and Equalities Committee recently held an evidence session exploring the impact of the rising cost of living on women and its outcome paints a very similar picture.
The committee heard the impact of both the pandemic and the cost-of-living crisis has heightened women’s reliance on support services, and that the gender pay and earnings gap has made women more vulnerable to the cost-of-living crisis.
The Purse Ltd. Copyright 2024 & All Rights Reserved.
The Purse provides content for informational purposes only, we do not provide investment advice. Please do your own research or speak to a financial adviser.