HSBC UK has unveiled research shedding light on the differences in financial attitudes and behaviours between men and women, particularly in the realms of saving and investing.

The study, conducted by HSBC UK, unveils concerning statistics, with two in three women (69%) admitting to lacking confidence when it comes to investing money. One in four women (27%) abstain from investing altogether due to a perceived lack of knowledge in the field.

Two in five people in the UK invest but around two thirds (67%) of women don’t invest their money, compared to 56% of men. In fact, 3.3 million fewer women hold investments in the UK compared to men – a population three times the size of Birmingham.

The main reasons include not having enough money (45%), limited knowledge on investing (27%) and thinking it is too risky (19%). Two thirds (60%) of women believe they will lose out on money if they invest.

Recognising the urgency of addressing this confidence gap, HSBC UK has launched a series of ‘inspiring money confidence’ webinars, tailored to empower women to enhance their financial wellbeing. These webinars, open to both customers and non-customers, aim to equip women with the knowledge and confidence needed to navigate the complex landscape of personal finance effectively.

Rebecca Owers, Director of Wealth Distribution at HSBC UK, underscores the importance of financial education in empowering women to seize control of their financial futures.

“Women are facing significant barriers when it comes to money. We are living longer but can earn less than our male counterparts. We take more career breaks, but we need to work an extra 19 years to retire on the same pension savings as a man^.

“We need to make our money work harder, so it’s important to consider options like investing. Financial education is key here – by talking openly about money and learning the different options available, women can gain the confidence needed to take control of their financial futures.”