International Women’s Day (IWD) is a time to celebrate women’s achievements, raise awareness about inequality, and act for a fairer future. This year’s theme, #AccelerateAction, calls for collective efforts to drive gender equality forward. One essential aspect of this is financial empowerment—ensuring that women have the tools and confidence to build financial security.
Taking control of our finances is about more than just saving—it’s about independence, confidence, and opportunity. Financial self-care means making intentional choices that support long-term financial wellbeing, helping women take charge of their future and gain greater financial freedom.
Why Financial Self-Care Matters
Women face unique financial challenges, including the gender pay gap, career breaks, and longer life expectancies, all of which can make it harder to build financial security. In 2024, the gender pay gap among full-time employees remained a challenge, directly affecting how much women can afford to save.
Beyond income, women are also more likely to experience interruptions in their careers, whether for caregiving responsibilities or part-time work, which can limit their ability to save consistently. Studies show that women are less likely than men to save on a regular basis, with just over half of women reporting they can save every or most months, compared to nearly three in five men. Over time, this difference in saving habits can widen financial inequalities, making it harder for women to build resilience and achieve their long-term financial goals.
Additionally, research shows that financial confidence is often lower among women, and a lack of tailored financial advice means they may not always access the best savings options available. Addressing these barriers is key to closing the gender savings gap and ensuring that more women have the financial freedom to make empowered choices.
However, financial self-care is about taking small, consistent steps that build confidence and security. Whether it’s making a budget, setting savings goals, or exploring better financial products, women can take charge of their financial future and create long-term stability.
Simple Steps to Take Control
Define Your Financial Future – Your savings should align with your goals, whether that’s building an emergency fund, buying a home, or achieving financial independence. Take control by setting clear, achievable milestones.
Start Small – Even saving as little as £10 a month can make a difference. Research by UK Savings Week showed that 42% of non-savers believe they could start a regular savings habit. Starting with small amounts, small and consistent savings could build financial confidence over time.
Automate Savings – Regular transfers to a savings account can remove the temptation to spend and help you build resilience effortlessly.
Use Available Tools – Workplace savings schemes, ISAs, and other tax-efficient savings products can help grow wealth. Policies such as auto-enrolment into workplace savings and raising the Personal Savings Allowance can make saving easier and more accessible for women.
Budget with Purpose – Every pound saved is a step towards freedom. Track income, eliminate unnecessary expenses, and focus on what truly supports your financial independence.
Empower Your Money to Work for You – Savings are not just about setting money aside but making it grow. Seek out high-interest accounts or other financial opportunities that align with your risk comfort and long-term goals.
Financial empowerment is key to gender equality. By prioritising financial self-care, setting clear savings goals, and making the most of available financial tools, women can build financial security and confidence.
This International Women’s Day, let’s encourage more women to start saving, build resilience, and take control of their financial future.
