Six in Ten Women Claim Financial Independence!
According to a recent survey conducted by Synovate, nearly six in ten, that is, 58% women across 12 countries consider themselves to be financially independent, and the highest percentage of these financially self-sufficient women are in France. Amongst the countries that were surveyed, France boasts of 80% financially empowered women, followed by Britain at 76% and South Africa at 69%. The survey posed questions to nearly 4,500 men and women each. The markets covered by the survey are Australia, Brazil, Bulgaria, Canada, France, Indonesia, Malaysia, Mexico, the Netherlands, South Africa, the UK and the US.
The survey found out from both men and women about the roles that are played by women in the household finances, whether they feel sufficiently in control of their own cash, if they feel they are financially independent and whether they think that women are better equipped money-managers than men. A surprising revelation of the survey was that nearly two-thirds, that is, 64% of American women feel financially independent. This is in fact ironical in a country that prides itself on an autonomous spirit.
The survey attempted to find out how women define financial independence and what it implies to them. The top three answers that were obtained were the following- 41% of women said that financial independence is about not being dependent on her husband or partner for money, 30% of women said that financial independence is about living debt-free, while 18% said that it is about being able to afford the things that they want without worrying about the cost. The survey also explored the attitudinal contrast between men and women about gender roles in household finance, and the results revealed that overall 43% of women agreed that a man should be responsible for the mortgage and house payments. However, when the same question was put before men, 53% of the respondents agreed, demonstrating that there is likelihood that men will consider themselves more responsible for this part of the household budget.
When asked if the respondents think that providing for the family’s needs is the man’s responsibility, 58% of men and 38% of women agreed. A pleasantly surprising finding of the survey was that just more than half the respondents including men and women agreed that when it comes to money, women are more responsible than men. However, the responses exhibit a significant gender difference, with 61% of women and only 40% of men supporting the above statement. The highest level of agreement in this context was found in Mexico, with an overall 72% of respondents believing that women are more responsible with money than men. Synovate stated that perhaps this is accounted by the fact that Mexican women commonly play the role of home administrators, handing out money for utilities, rent, etc., and they generally think of men as extravagant and economically unwise.
This shows considerable progress in the status of women all across the globe, and this is turn should act as a benchmark for the many women who are lagging behind, if they dare to dream, they can conquer the world. They need to believe in themselves, for they are no lesser than anybody.