Younger women are more likely to feel anxious about their financial situation than men, according to a new study from financial education firm Nudge.

It said globally, 50% of women across all age groups experience financial anxiety, compared to 41% of men.

The firm surveyed more than 11,500 employees and found that, in the UK, 67% of women aged 25-34 felt anxious about their current financial situation, compared to less than half (43%) of men in the same age group.

In the US the figures were lower with 45% of women aged 25-34 saying they felt anxious about their financial situation, compared to just 39% of men. 

The report also highlighted different approaches to financial planning across both groups. Over half (54%) of women aged 25-34 surveyed said they only have a short-term financial plan of three years or less in place.

In contrast, 52% of men in the same age group have a long-term financial plan (three years or more).

Grace Massey, chief marketing officer at Nudge said: “When it comes to Financial Planning and stability, women encounter various barriers compared to men.”

She said women still grapple with a persistent gender pay gap, earning 24% less than men across the world.

Ms Massey said: “What we see consistently in our data is 84% of women worldwide have a specific life goal of supporting their family. As a result, this leaves many women juggling their money management alongside family planning, and childcare decisions, resulting in heightened financial anxiety and insecurity compared to men”.

The firm said the research results offer employers an opportunity to understand the extent and underlying reasons for the challenges within their organisations so they can help women build long-term financial security and feel more optimistic about their futures.

• Nudge’s annual Financial Wellbeing Report surveyed more than 11,500 employees worldwide.