Millennial Women More Financial Savvy Than They Think | DIY Investor Resources

Millennial Women More Financially Savvy Than They Think

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Millennial women might think they’re not financially savvy, but they do better than Millennial men when quizzed on money matters.

Millennial women might think they’re not financially savvy, but they do better than Millennial men when quizzed on money matters.

New research by Market Strategies finds that 17 percent of Millennial women said they “completely understand” financial and insurance terms, compared to 34 percent of Millennial men.

But when those women and men were tested about financial and insurance terms, Millennial women selected the correct answer 33 percent of the time, compared to 24 percent of men.

Millennial women might think they’re not financially savvy, but they do better than Millennial men when quizzed on money matters.

New research by Market Strategies finds that 17 percent of Millennial women said they “completely understand” financial and insurance terms, compared to 34 percent of Millennial men.

But when those women and men were tested about financial and insurance terms, Millennial women selected the correct answer 33 percent of the time, compared to 24 percent of men.

“Historically, women have scored lower than men in terms of financial knowledge,” said Christopher Barnes of Market Strategies, “but as Millennials are delaying marriage and making major financial decisions solo, like buying houses and managing student loan debt, it’s clear Millennial women are getting proactive about their financial knowledge.”

According to the Market Strategies survey, when it comes to learning more about financial products and investments, 38 percent of Millennial women turn to family, friends and colleagues, while 38 percent of Millennial men are going to YouTube.

Still, many women are reluctant to talk about money. A Merrill Lynch and Age Wave report found that 61 percent of women would rather discuss their own death than delve into money matters.

And a survey by Visa showed that while 54 percent of Millennial women are willing to talk about their sex lives, only 16 percent will share how much money they make, Bustle reports.

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