Women’s financial independence is on the rise, but men still make the investment decisions
Findomestic Observatory study: 90% of women have their own income, and 80% are involved in managing the household finances
The financial independence of Italian women has improved, although there is still a long way to go, particularly when it comes to financial decision-making and investment. This is what emerges from the Findomestic Observatory report dedicated to women’s finance, produced in collaboration with Eumetra and Research Dogma. The data show positive progress: 90% of women surveyed have personal income that is more or less regular and continuous, 65% manage it directly, and 70% consider themselves very or fairly competent in managing their own financial affairs. Among men, the percentages are slightly higher: 69% manage their income independently and 78% consider themselves competent in financial matters. There remains a gap to be bridged even when it comes to personal bank accounts for exclusive use: 59% of women say they have one for exclusive use, compared to 64% of men. 11%, however, say they do not have one.
When it comes to managing money, men and women report similar needs and perspectives, with no major differences: 80% of women say they are involved in the financial management of their household, on a par with men (82%); similarly, they share a careful and prudent approach to managing household expenditure with their family members (81% of men, 83% of women), 54% say they have joint savings plans, contributed to by several family members. “The research,” according to Annamaria Russo, Head of Brand, Communications & ESG at Findomestic Banca, “paints a picture of an Italia that has moved beyond the old hierarchical models of the ‘financial head of the household’: gender gaps have not disappeared, but they are becoming more limited and opening the way for a female-led approach to finance capable of valuing skills, caution, saving and a long-term vision”.
The shift from self-reported competence to actual decision-making, however, reveals a still marked difference: 52% of men make their own financial decisions independently, compared with 29% of women. Women tend, in fact, to rely more on family members, friends or more experienced colleagues (57% compared to 41% of men), partly because they feel less confident: 72% feel confident in managing money, but only 24% describe themselves as ‘very confident’ (compared to 32% of men).
Despite the gaps that still exist, there is a strong desire to take a leading role in women’s finance: 87% of women say they are very or fairly interested in managing their own finances, a proportion higher even than that of men (84%). “True women’s finance,” continues Annamaria Russo, “must not replicate traditional models born in a predominantly male context, but build a concrete and autonomous approach to equality in everyday life, attentive to both individual and collective projects. It is an evolution that can improve society’s relationship with money.”
