Kiwi women are smarter with money: new report reveals key financial trends

Kiwi women are proving to be more financially literate than men, despite often underestimating their own abilities, according to the latest Financial Services Council (FSC) Insights & Trends: Women and Finance in New Zealand. 

FSC research shows that 66% of women correctly answered three or more financial literacy questions, compared to 57% of men, demonstrating a strong understanding of key financial concepts such as investment strategies and risk diversification. 

However, the findings also reveal a persistent confidence gap, with many women perceiving themselves as less knowledgeable about financial matters. 

Key findings: 

• Women demonstrate higher financial literacy than men but are less confident in their financial decision-making. 

• Despite their financial capability, over 80% of women rate their financial wellbeing as moderate, low, or very low. 

• Women are more likely to seek professional financial advice, with 78% either considering or already receiving financial guidance. 

• The gender pay gap and career interruptions contribute to lower lifetime earnings and a 25% gender retirement gap between men and women in KiwiSaver*. 

The report also found that while women tend to invest more cautiously, they often achieve better long-term results due to their measured approach and focus on financial security. FSC research suggests that women are more likely to diversify their investments, avoid high-risk speculation, and stay committed to long-term financial strategies—a formula that has historically led to stronger, more stable investment returns. 

“The data is clear - women are better investors than they think they are,” said Kirk Hope, CEO of the FSC.  

“We need to shift the narrative from perceived lack of confidence to recognising women’s strengths in financial decision-making,” said Mr. Hope. 

The FSC continues to advocate for financial empowerment initiatives, with FSC’s Empower Women leading efforts to close the gender retirement gap and supporting the financial confidence and wellbeing of Kiwi women.  

For more information and to access the full report, click here.

ENDS

*Te Ara Ahunga Ora The Retirement Commission, 2024