LONDON, July 11, 2018
LONDON, July 11, 2018 /PRNewswire/ --
A recent survey conducted by Canary Claims revealed that 46% of men never feel stressed about their finances. In contrast, 20% of women admitted to feeling stressed about their finances on a daily basis.
The online survey asked over 1,500 participants 'how often do you feel stressed about your finances?' The majority of respondents claimed to feel stressed about their finances at some point, whether on a daily or occasional basis.
Men and women responded to the question in very different ways, leading to questions as to why this might be.
Another sign of gender inequality?
The difference in results between men and women could be yet another indication of gender inequality. Earlier this year, companies were forced to reveal how much they paid men and women. Nearly 8,000 of 10,000 companies revealed that men are paid more.
Many companies expressed that this was due to the fact that men and women had different roles within the company, but questions remain as to why there are more men in higher paid roles is one frequently asked by those exploring gender equality.
Based on the results of the survey, over 60% of women feel stressed about their finances at some point.
Financial woes leading to stress
During May's Mental Health Awareness week, a key focus was on stress. Increased levels of stress has a negative impact on people's mental health and, as the data from Canary Claims suggests, most people feel stressed about money at some point.
The survey also revealed that those under the age of 34 feel the biggest financial stress. Of this age group, 25% of women feel stressed about finances every day, with only 36% claiming to never worry. For the younger generation, increasing house prices and rising interest rates could be the cause of their financial concerns.
Tackling financial stress
Both men and women have financial struggles and concerns. The solution to tackling these concerns will appear in different forms for different people. Talking about financial stress and worries should be at the forefront of the agenda, rather than it being treated as a 'taboo' subject. Opening up the conversion can allow people to not feel as isolated and will reduce the stigma surrounding discussing money.
Educating people about how to be financially aware is another option. Making financial decisions such as switching current accounts, investing in ISAs or making a PPI claim can be beneficial. These choices allow individuals to make extra money and reduce their financial burden.
For more information about Canary Claims and details about the survey, visit CanaryClaims.co.uk