{"id":320921,"date":"2025-04-21T07:35:01","date_gmt":"2025-04-21T12:35:01","guid":{"rendered":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/who-saves-more-money-men-or-women"},"modified":"2025-04-21T07:35:21","modified_gmt":"2025-04-21T12:35:21","slug":"who-saves-more-money-men-or-women","status":"publish","type":"post","link":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/who-saves-more-money-men-or-women","title":{"rendered":"Who Saves Extra Cash \u2014 Males or Ladies?"},"content":{"rendered":"

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From bank accounts to 401(k)s, the average American man has nearly $200,000 in savings \u2014 almost double as much as the average woman,\u00a0according to new research<\/a>.<\/p>\n

An exclusive survey conducted for\u00a0Newsweek<\/a>\u00a0by Talker Research explored the finances of respondents by looking at their debt and savings.<\/p>\n

The survey, conducted between Jan. 15 and Jan. 20, 2025, sampled 1,000 Americans, with results showing that across their accounts, the average person has $145,778.30 in savings.<\/p>\n

When broken down by gender, there\u2019s a stark difference between how much money the average man and woman have saved up ($195,136.20 vs. $105,498.50.)<\/p>\n

Average Man Holds Nearly Twice as Much in Savings as the Average Woman<\/strong><\/h2>\n

Donna Stefans, founder and lead attorney at Stefans Law Group PC, spoke on some of the elements that may contribute to this difference.<\/p>\n

\u201cMen earn more on average than women,\u201d she said. \u201cThe gender pay gap is very real; women earn 84 cents on the dollar earned by men. That means women are paid less than men in more than 90 percent of the jobs at all levels of work and in almost every occupation.<\/p>\n

\u201cWomen are often the sacrificer because of the wage gap because men make more money. It’s a vicious cycle.\u201d<\/p>\n

She also observed the difference in social norms when it comes to the ease and opportunities for women to contribute to the conversation about money.<\/p>\n

\u201cMen discuss this topic all the time as part of doing business and are not intimidated by the conversation,\u201d she said.<\/p>\n

\u201cWomen have less confidence in their investing and financial education, even if it isn’t the truth, so they tend not to invest their money, and it won’t grow if it sits in the bank versus putting their money into any of the investment markets that will grow at a greater rate to grow and save for the future, keeping it in the bank and cash cannot keep up with the investment markets.\u201d<\/p>\n

In addition to pay and knowledge inequity, she commented on how traditional gender roles may affect women\u2019s ability to save.<\/p>\n

Confidence Gap in Investing Keeps Women From Growing Their Money<\/strong><\/h2>\n

\u201cWomen are also more likely to be caregivers, which, in turn, takes time away from paid work,\u201d she said. \u201cThey may become full-time caregivers for children and elderly parents or cut back to part-time to balance work and family.\u201d<\/p>\n

According to Stefans, these setbacks will impact long-term financial preparation, all the way ahead to retirement.<\/p>\n

\u201cThere are fewer savings for now and in the future. This makes it absolutely more difficult for a woman in retirement who has had less time and earnings to save for the retirement years,\u201d Stefans said.<\/p>\n

As a result, she encourages women to strive toward financial freedom by focusing on \u201cempowering themselves to empower their money.\u201d<\/p>\n

Survey methodology:<\/strong><\/span><\/p>\n

Talker Research surveyed 1,000 general population Americans;<\/strong>\u00a0the survey was commissioned by\u00a0Newsweek\u00a0<\/strong>and administered and conducted online by Talker Research between\u00a0Jan. 15 and Jan. 20, 2025.<\/strong><\/em><\/p>\n<\/p><\/div>\n\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

From bank accounts to 401(k)s, the average American man has nearly $200,000 in savings \u2014 almost double as much as the average woman,\u00a0according to new […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-320921","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/320921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/comments?post=320921"}],"version-history":[{"count":2,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/320921\/revisions"}],"predecessor-version":[{"id":320923,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/320921\/revisions\/320923"}],"wp:attachment":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/media?parent=320921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/categories?post=320921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/tags?post=320921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}