2 in 3 women have no financial role model
Just under two thirds (60%) of women have no financial role model, according to new research.
Those with a financial role model were most likely to look up to their mother (11%).
A smaller percentage of the 1,154 women surveyed by investment platform AJ Bell said they looked up to their father as a financial role model (9.6%).
Influencers were less important than expected, with just 1.5% of women saying a celebrity or influencer was their financial role model.
Women aged 40-60 were the most likely to cite a celebrity or a commentator as a role model, with Martin Lewis a clear favourite.
One in 10 women said they would prefer not to say who their financial role model is.
Danni Hewson, financial analyst at AJ Bell, said there is still a lot of work to do when it comes to making finance accessible and relatable to women if the gender investment gap is to be narrowed.
She said: “With the credit crunch forcing most people to really think about their finances it’s disappointing that the majority of women say they don’t have role models to look up to when it comes to their cash. Perhaps it’s because money is still too often seen as a taboo subject, not something to chat about with friends in the same we would talk about relationships or fitness.
“Just under a quarter of women said they did get inspiration from family members with mums being the parent most women, particularly those under 40, said inspired them.
“Learning good financial habits from someone we trust and admire is incredibly powerful and could go a long way to helping close the gender investment gap which stands at a whopping £65,000 per average woman or if you were to add all those gaps together an incredible £1.65 trillion across the UK.
“The reasons for the gap are many and a lack of disposable income is cited by women as the reason they don’t save more, but a good number say they just don’t understand or don’t know where to start which is why having more visible, obvious, celebrated role models is really important and clearly missing from most women’s lives.”
AJ Bell surveyed 1,154 women on 17 February.
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