Challenger bank says women have knowledge, lack confidence
Women feel confident in about managing day-to-day household finances but believe they lack ability to make bigger financial decisions including investments.
That’s one of the key findings of a new poll from EQ Bank, part of Equitable Bank which reveals that less than a third of women (31%) are confident in their financial knowledge compared to almost half of men (49%). They are also less satisfied with their financial knowledge (38% vs. men’s 55%).
"We don't have a knowledge issue, we have a confidence issue," says Kim Kukulowicz, Vice President of Residential Sales and Partner Relations, Equitable Bank. "This is a problem. In any life situation, women should be in charge of their financial destiny. And the reality is, many of us will have to manage on our own at some point.”
The bank is hosting a series of events in 2018 to address the financial confidence and knowledge concerns of women. They will feature several high-profile advisors including Michele Romanow, tech entrepreneur and CBC Dragon, Kristen Wood, founder of Canada's fastest growing beauty services company The Ten Spot, prominent personal finance expert Rubina Ahmed-Haq and personal finance influencers Jessica Moorhouse and Desirae Odjick.
“We need to make sure women are confident enough to take their financial well-being into their own hands, pass on that confidence and knowledge to the next generation, and be financial role models for their kids," added Kukulowicz.
That’s one of the key findings of a new poll from EQ Bank, part of Equitable Bank which reveals that less than a third of women (31%) are confident in their financial knowledge compared to almost half of men (49%). They are also less satisfied with their financial knowledge (38% vs. men’s 55%).
"We don't have a knowledge issue, we have a confidence issue," says Kim Kukulowicz, Vice President of Residential Sales and Partner Relations, Equitable Bank. "This is a problem. In any life situation, women should be in charge of their financial destiny. And the reality is, many of us will have to manage on our own at some point.”
The bank is hosting a series of events in 2018 to address the financial confidence and knowledge concerns of women. They will feature several high-profile advisors including Michele Romanow, tech entrepreneur and CBC Dragon, Kristen Wood, founder of Canada's fastest growing beauty services company The Ten Spot, prominent personal finance expert Rubina Ahmed-Haq and personal finance influencers Jessica Moorhouse and Desirae Odjick.
“We need to make sure women are confident enough to take their financial well-being into their own hands, pass on that confidence and knowledge to the next generation, and be financial role models for their kids," added Kukulowicz.
