Women remain more concerned about finances
One in four Australians have indicated acute stress levels over finances, with women (37 per cent) much more likely than men (22 per cent) to feel ‘extremely’ or ‘very’ stressed about their financial situation, according to the Financial Planning Association of Australia (FPA).
The FPA ‘Live the Dream’ national report showed more women than men were part of the 80 per cent of working-age Australians who recorded high stress as a direct link to managing finances.
Commenting on the findings, FPA chief executive, Dante De Gori said the trend showed younger generations were also more likely to be stressed, although the trend was reversible if Australians were more willing to seek help from financial planners.
The report also established a link between financial planning and a sense of “living the dream,” which De Gori said reflected the need for professional planners to assist in reducing stress.
More than half of Gen Y respondents (53 per cent) considered financial planning “too hard” over 25 per cent of Baby Boomers.
The research was released in conjunction with Financial Planning Week (21-27 August, 2017).
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