Women Use the Word 'Stress' to Describe Feelings About Money, While Men Use the Word 'Hopeful,' Study Finds

If you're a woman who feels stressed about money, you're not alone.

What word would you use to describe your feelings about money? Is it positive or negative? A recent study by Fidelity Investments found that women and men express their feelings surrounding money differently. It turns out that, overall, men are more confident about their finances when compared to women.

With March being Women's History Month, it's the perfect time to examine these differences and encourage continued education around important money management topics so both women and men can thrive financially.

46% of women feel stressed about money

Fidelity Investments recently conducted its Women's History Month 2023 Survey to examine the current state of women's finances in the United States. The study also compared how men and women differ regarding finances. It turns out there were some pretty stark differences.

For one portion of the poll, women and men were asked to describe their feelings about money. Respondents were able to choose multiple words. 'Stress' was the No. 1 word women used to describe how they felt about money. In contrast, 'hopeful' was the most common word men used to describe how they felt about money.

Here are some notable stats of the poll:

• 46% of women used the word 'stress' to express their feelings regarding money.
• 34% of men used the word 'stress' to express their feelings regarding money.
• 42% of men used the word 'hopeful' to describe their feelings surrounding money.
• 38% of women used the word 'hopeful' to describe their feelings surrounding money.
• 23% of women used the word 'discouraged' to describe how they feel about money.
• 14% of men used the word 'discouraged' to describe how they feel about money.

The study found that financial fears differed, too

Respondents were also asked to share their top financial concerns. Similarly, the answers differed. The poll found that women were most concerned about the cost of living and inflation. On the other hand, men were most concerned about not having enough savings.

This finding isn't exactly surprising, seeing that there continues to be a noticeable wage gap between men and women. According to the U.S. Census Bureau, women earned $0.83 for every $1 made by men in 2020. While the gender pay gap has narrowed somewhat, women workers are still at a financial disadvantage, and a gap in pay impacts their financial security.

It's no wonder it's a struggle for many women to keep up with rising living costs. As a whole, women make much less than their male counterparts do -- but they still have to pay the same higher prices as men. It's understandable why many women are concerned and less optimistic about money when they likely have more meager checking account balances.

It's never too late to boost your personal finance knowledge

These findings show the importance of personal finance education. Many women feel less knowledgeable about critical financial matters. But it's not too late to learn more about money. If you're a woman with financial fears, boosting your knowledge may help you feel more confident and prepared to make decisions. Luckily, there are many free educational resources available. Check out these free personal finance resources to learn about essential money matters.