8 Mar 2012

Survey shows women less financially prepared than men

7:28 am on 8 March 2012

Women are lagging behind men when it comes to financial planning, a Westpac survey has indicated.

The bank conducted an online survey of 780 New Zealanders and found that 44% of women feel financially insecure, compared to 35% of men.

It says women respondents also reported giving less thought to when they want to retire, and how much money they expect to need when that day comes.

A third of men reported being financially prepared to be a sole provider, compared to a quarter of women.

Westpac's general manager of retail banking, Gai McGrath, says the bank was not sure what it would find when it commissioned the survey.

Ms McGrath says some of the differences between the genders in relation to financial matters are quite stark.