Millennial women are keen to learn about personal finance but have trouble transferring that knowledge into an actionable plan.
The finding, among others, was uncovered in a recent Allianz Life Insurance Company of North America (Allianz) study, the “2013 Women, Money & Power Study.”
Allianz — which surveyed more than 2,000 women ages 25-75 with a household income of $30,000 or higher — found that the youngest contingent of women (those between the ages of 25-34) indicated the highest level of interest among all age groups in learning about financial planning.
Perhaps due to successful messaging on the part of the industry or the devastating effects of the financial crisis on older peers or perhaps because this group has come of age in an era where the empowerment of women has been nearly fully realized, Millennlia women are eager to learn about personal finance and take responsibility for their financial future.
Sixty-nine percent of Millennial women reported that they were interested in learning about “financial planning and investing” and 65 percent of the next age bracket (women ages 35-44) reported they were also interested in the subject. This indicates that, generally, the younger women are, the more likely they are to express an interest in personal finance and financial planning.