Men feel more financially educated
There is a need to redress the balance in financial education for both women and men to make investment choices that suit their needs and goals, according to BT Financial Group.
Data from BT's Australian financial health index found 51 per cent of men felt financially educated compared to 38 per cent of women.
The survey also found 20 per cent of women said they disagreed with the statement: "they feel financially educated" compared to 14 per cent of men.
The data found after a windfall men were more likely to invest in shares (22 per cent, compared to 12 per cent of women) and were more likely to put some money towards superannuation (21 per cent, compared to 17 per cent of women).
Women were found to more likely invest in high interest accounts and term deposits (42 per cent, compared to 39 per cent of men).
BT Financial Group head of financial literacy and advocacy, Bryan Ashenden, said there was a positive correlation between women and fixed income style investments like high interest accounts and term deposits.
"While the trend shows men tend to favour exposure to growth assets such as shares," he said.
Both genders had the same attitude to treating themselves to a big purchase such as a car or jewellery, with 18 per cent of both genders identifying it as a way to spend a windfall of $100,000.
In terms of travel, 38 per cent of women and 31 per cent of men said they would spend their windfall on a big holiday.
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