Study finds gender gap when it comes to finances - FOX Carolina 21

Study finds gender gap when it comes to finances

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(KFVS) -

A new study from Kansas State University shows that women might be falling behind when it comes to finances.

According to a press release on the study, "Financial Knowledge and the Gender Gap," Americans as a whole show low levels of financial knowledge and capability, but women are less financially capable. Especially women who are under age 34 and over age 55.

The gap seems to only get bigger as women age.

The press release calls the results "especially alarming" considering one out of four households in the United States is headed by women alone and many of them have children.

Cliff Robb, a Kansas State University Financial Expert, says it there are things we can do to change this.

"Maybe we need to do a better job of engaging females at younger ages. Maybe women need to consider being more proactive in getting involved in financial decision making. If you're in a household that's decided to split tasks in terms of financial planning, it's always good to have discussions about it," Robb says.

It's possible, according to researchers, that the gender gap is due to "historic and cultural views of the household."

Click here to read the full report on the study.

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