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Financial Stress Weighs Heavily on Women

Financial Stress on Women

American women are tired, worried, and stressed. They’re constantly met with barriers in both their personal and professional lives. Among these barriers, money and finances are the largest contributors to their stress. Financial stress comes with a multitude of side effects on their day-to-day lives including worry, stress, anxiety, panic, depression, sleepless nights, and troubled relationships.



You may be thinking to yourself, of course money is a challenge when the pay gap exists. But the pay gap is only the start of financial inequality for American women. We took a deep dive into American finances to further understand the impact financial stress has on women compared to men. We found that men don’t feel the impact as badly as women. More than half of working American women (51%) worry about their finances as opposed to only 41% of men. However, they have the same levels of worry when it comes to relationships, careers, and health.


Stress Levels on Men vs Women


Let’s take a look at some of the other statistics…


  • 38% of women are financially fit (v. 52% of men)
  • 34% of women run out of money before payday (v. 25% of men)
  • 70% of women feel they do not have enough money for retirement (v. 50% of men)
  • 41% of women have less than $500 in their checking accounts (v. 18% of men)
  • 40% of women have been denied a loan (v. 30% of men)
  • 63% of women feel they don’t earn enough to save (v. 51% of men)
  • 63% of women have taken maternity leave
    • 59% report it affected their ability to pay bills
    • 53% were forced to take on additional debt to make ends meet

Why Employers Should Care?



When your employees are suffering, your business is also suffering. Employees with financial stress are 8.1 times more likely to have sleepless nights, 5.8 times more likely not to finish daily tasks, 4.3 times more likely to have troubled relationships with work colleagues and 2.1 times more likely to be looking for a new job. The cause of this stress is a combination of factors including, expenses exceeding income leading to a monthly shortfall, lack of savings leading to difficulty in dealing with life’s unexpected expenses (car trouble, medical bills, etc.) — this leads to an increase in borrowing to bridge the gap. For many (40% of all employees), who because of their credit score/lack of credit history, their only option is very high interest triple digit payday loans, pawn shops, or loan sharks. This dramatically increases their expenses and leads to a spiraling debt crisis.



The side effects of financial stress are even worse for women because as we’ve seen from our research, women face more financial challenges than men. Luckily, employers have the power to help. Employers partnering with Salary Finance can give their employees the ability to break this vicious cycle of spiraling debt, by giving access to low interest, salary-linked loans. This can help employees twofold: avoid expensive loans in the first place and secondly consolidate their high cost debt. This reduces monthly expenses which can be the starting point to build savings resilience. As a result, employees will be able to improve their lives outside of work which will ultimately improve their lives at work.



Want more information? Download your copy of the Employer’s Guide to Financial Wellness to further understand the impact poor financial health has on employees.

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