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The gender gap in financial literacy

We, at the ECB, are committed to addressing the gender gap in financial literacy and improving financial education in general. From budgeting and saving to shopping and investing, understanding your personal finances can empower you to make more informed decisions in everyday life.

That’s why we strive to make economics accessible and easy to understand. On this page, you can learn about things like interest rates, inflation in a clear and relatable way, helping you become more confident about your financial future.

One in five Europeans have a high level of financial literacy

Only 15% of women fall into this category compared with 27% of men, highlighting the gender gap in financial literacy and understanding personal finances.

Why financial literacy and financial education matter for women


Women in Europe earn on average 12.7% less
Women are 80% more likely to retire in poverty
Women are less represented in leadership roles
Women are less likely to ask for a pay rise
  1. Infographics source: Rhoades, A. (2024 March 08). Women and financial literacy: Closing the gender gap

Understand the basics


Let's start with the basics: these simple concepts will help you understand how money works and make confident decisions about your everyday finances. 


Saving and spending

Learn how to manage your money from day to day and how to plan ahead.

Borrowing

Understand how borrowing works, from loans to interest rates.

Investing

Explore different ways to invest and grow your money over time.

Learn how to handle everyday situations


These quick examples show how everyday decisions about money can play out in real life, from receiving your first salary to planning for your future.


Sofia, 22, has just started her first job

Sofia just got her first job and spends most of her salary on shopping and going out. She enjoys having her own income but hasn’t begun to think about saving or planning ahead.

Leila, 19, a student on a tight budget

Leila wants to save, but unexpected expenses keep coming up. She’s not sure how much she should set aside or how to plan ahead with the little money she has.

Anna, 25, has some savings but keeps them in her bank account

Anna has heard that investing could help her money grow, but it feels risky and complicated. She worries about losing money and doesn’t know where to start.

Maya, 30, takes out a loan to cover an expense

Maya focuses on the monthly repayment amount but doesn’t fully understand how interest works or what the total cost will be. Later, she realises she is paying back much more than she expected.

Rita, 33, relies on her friend for advice

Rita doesn’t fully understand money matters and relies on advice from a friend. She trusts their judgement but would like to feel confident about making her own financial decisions.

 Common myths about money

Hear us demystify common thoughts about money. Use the links below if there are any topics you want to learn more about.

Is buy now, pay later always a good idea?
Learn about managing your spending
Are all loans the same?
Learn about borrowing
Is your money safer if you don’t invest it?
Learn about investing
Pensions… where do I even begin?
Learn about pensions
Should I leave financial decisions to someone else?
Learn about managing your own finances
Is it too early to think about retirement?
Learn about retirement
How can I spot an online scam?
Learn about staying safe online

Listen to our podcast episodes on the gender gap in financial literacy


Take control of your financial future: In Conversation with Christine Lagarde
Mind the gap: gender and financial literacy

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