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Study reveals that women feel insecure about their financial future

Large percentage of women insecure about their finances 16000646 800469396 0 0 14733 300

Westpac Women's Financial Health Report for September 2011 has shown that only 13 per cent of females feel financially secure.

Data collected by CoreData for Westpac also reveals that only 20 per cent have a confident outlook on their future plans.

Perhaps most alarmingly, 48 per cent did not believe they will accumulate enough wealth to retire comfortably.

Four out of ten also claimed that they did not view themselves as financially independent from others.

The news comes as cost of living continues to increase, alongside eleven consecutive months of interest rates being held steady - leaving many in a difficult position when it comes to money and expenditure.

Other issues cited as causing concern was the need to take time off when pregnant or taking care of a family, further limiting earning capacity.

Women who are working, yet still feel under pressure - may wish to investigate potential savings from switching their electricity or gas supplier.

Cheaper rates are often available from rival distribution companies and a switching service can determine this and also facilitate the transition.

Posted by Callum Fleming