Women More Financially Fragile Than Men, Study Finds

Nearly 60% of U.S. women live paycheck-to-paycheck, with many losing trust in financial institutions.

Nearly 60% of U.S. women are living paycheck-to-paycheck, compared to 41% of men, according to a recent survey by Varo Bank, Morning Consult and Thrive Financial Empowerment Services.
Women represent two-thirds of those considered financially fragile, a subset of Americans living paycheck to paycheck who lack any financial slack or support.
Women, generally speaking, are making less than men as they tend to be employed in lower-paying occupations than men and still bear the bulk of household and childcare responsibility.
Women of all ages also spend about $15.4 billion more each year than men in out-of-pocket health care expenses, according to a Deloitte study.
Heightened financial fragility has eroded trust in financial institutions, with nearly three-quarters of respondents saying they believe U.S. financial institutions are “rigged against the poor.”