This Is Women’s No. 1 Financial Goal, Survey Shows

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Fidelity Investments found that women want to feel more secure about money and have no financial fears. Discover some ways women are improving their finances. [[{“value”:”

In recognition of Women’s History Month, Fidelity Investments conducted its Women’s History Month 2024 Survey. Over 3,000 adults were polled about their feelings about money, the financial goals they were already tackling or were planning to pursue, and their financial successes and mistakes. Find out what long-term financial goal women will continue working toward in 2024.

Women want to feel secure about their finances

When asked what long-term financial goals women wanted to achieve, one answer topped the list: 58% of women wanted to feel secure and not worry about money. Interestingly, this is the same answer most women gave when Fidelity Investments conducted the same study in 2023. But in 2023, 59% of women shared that goal.

It makes sense why this would be a top goal. Feeling financially secure and having little to no financial fears can make it easier to enjoy everyday life. Sadly, stress is a common emotion for people when thinking about money.

Both men and women who were surveyed feel stressed about money. Study findings show that 57% of women are stressed about money, while 41% of men feel the same. The study found that 93% of women feel stressed about managing their money.

One thing that made a big difference was taking financial action. Women who took financial action within the last six months were more likely to feel less stress when managing their money than women who did not. Taking steps to improve your finances can reduce your stress.

39% of women have adjusted their spending habits

Let’s take a closer look at what actions women have been taking. Within the last six months, 39% of women have adjusted their spending habits. Using budgeting apps to monitor and reduce your spending can help you have more control over your finances.

Here are some other ways that women have made financial progress in the last six months:

32% improved their credit score31% paid down debt27% were more open about money with their partner or spouse23% contributed to an emergency fund

Here’s what goals women plan to tackle in the next six months

Fidelity Investments found that nearly 8 in 10 women had taken money action within the last six months or were going to in the upcoming months. Here’s a breakdown of some of the financial actions women plan to take within the next six months:

40% want to contribute to an emergency fund38% hope to save more for retirement37% plan to save for other goals beyond retirement36% hope to boost their income35% want to adjust their spending habits35% plan to pay down debt

It’s not too late to make financial changes

Are you planning to take any financial action in the months ahead? If you have financial goals you hope to work on in 2024, there’s still plenty of time to make progress. Whether you want to pay off credit card debt, save a down payment to buy a home, or invest more, your goals are within reach

Be clear about your goals and outline a plan to make your financial resolutions a reality. Don’t let your fears stop you from making positive changes, and look to resources for additional help. For more money management tips, check out our personal finance resources.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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