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Financial Issues of Women

  • Cäzilia LoiblEmail author
  • Tahira K. Hira
Chapter

Abstract

Women face a broad range of financial issues. These can be categorized as follows: (1) women’s financial literacy is lower than men’s, but women are aware of the deficit and are more likely to seek professional financial advice; (2) women’s investment behavior is influenced by emotional and behavioral factors that can benefit or hurt investment outcomes; (3) women within couples are more involved in financial decisions when their age, education, and income are similar to their husbands’; (4) low-income women try to make ends meet by combining high-cost lending with less accessible mainstream financial products; (5) poverty among older women is particularly challenging, and adversely affects their mental and physical health; (6) beyond the western world, microfinance interventions have led to women’s empowerment and that empowerment has led to their assuming greater roles in economic decision-making.

Keywords

Empowerment Financial advice Financial literacy Intra-household financial decision-making Investment behavior Low income Microcredit Old-age poverty Women 

Notes

Acknowledgement

This research was supported by the Marie Curie International Incoming Fellowship within the 7th European Community Framework Programme (N° 330462).

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Copyright information

© Springer International Publishing Switzerland 2016

Authors and Affiliations

  1. 1.Department of Human Sciences, Centre for Decision ResearchLeeds University Business School, The Ohio State UniversityColumbusUSA
  2. 2.Department of Human Development and Family StudiesIowa State University AmesAmesUSA
  3. 3.Bonita SpringsUSA

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