When it comes to money, knowledge is power. Yet in Australia, too many women still lack the financial literacy skills that can shape their independence, confidence, and future security. The gender gap in money know-how isn’t just a statistic - it’s a reality with lasting consequences for women’s savings, investments, and retirement.
The Literacy Gap Starts Early
Research shows that Australian girls are at a disadvantage from the start. Only 15% of teenage girls demonstrate financial literacy, compared to 28% of boys. These gaps follow women into adulthood, where just 48% of women meet basic financial literacy benchmarks, compared with 63% of men.1
That 15-percentage-point gap makes Australia one of the worst performers globally when it comes to the gender divide in financial knowledge.
Why It Matters
This isn’t about passing a quiz. Financial literacy is linked to everything from how confident women feel about investing, to whether they can retire with dignity.
Savings: Women have, on average, $14,486 less in savings than men - a 27% gap.2
Investing: 46% of women have no investments at all (outside superannuation), compared to only 26% of men.3
Confidence: Only 18% of women feel very confident in managing money, compared to 28% of men.4
Confidence matters because it shapes financial behaviour. If you’re unsure about making a decision - whether it’s choosing a super fund, buying shares, or even setting a budget - you’re less likely to act. And when women hesitate, wealth gaps widen.
The Retirement Reality
The long-term effects are stark. Women approaching retirement (ages 60–64) have an average superannuation balance of $321,000, compared to $406,000 for men - a 21% shortfall.5
This means more women are retiring into financial insecurity. Alarmingly, 35% of women over 65 have less than $1,000 in savings, leaving many reliant on the pension or family support.6
Beyond the Numbers: The Human Cost
The gender gap isn’t just about wealth; it’s also about wellbeing. A 2024 YouGov survey found that 53% of Australian women experience financial stress, compared with 47% of men. Stress about money spills over into health, relationships, and career decisions, creating a cycle that’s hard to break.
Closing the Gap
Bridging this divide starts with knowledge, but also with confidence. Programs that empower women to engage with investing, understand superannuation, and build strong money habits can have a ripple effect across generations.
Some practical steps include:
Accessible financial education tailored for women at different life stages.
Workplace initiatives that combine pay equity with money skills training.
Encouraging open conversations about money - at home, in schools, and among friends.
A Call to Action
Financial literacy is more than just numbers - it’s freedom, security, and choice. Women in Australia cannot afford to be left behind. Whether you’re saving for your first home, planning for retirement, or simply trying to feel more in control, the first step is learning.
The gender gap in financial literacy isn’t inevitable. With the right tools and support, women can close it and rewrite the future of money in Australia.
1 Financial Literacy in Australia: Insights from HILDA Data 2020
2 Money.com.au survey 2024
3 Moomoo and YouGov study
4 Fidelity’s Next Generation Report 2025
5 Australian Super 2024
6 Finder’s State of Women’s Health 2025 Report
