• Survey reveals that women have a larger gap in their financial reserves.
  • How high are the hurdles for women and men when it comes to dealing with finances?
  • When money is tight, women are more prepared than men to do without unnecessary extras.
  • Men are more confident about making financial decisions.
  • A glimmer of hope is that both genders want more financial education.
Who holds onto their money when prices are rising and inflation is galloping? Women? Or men? Is there even a difference between the sexes when it comes to this issue? As a recent study by EOS shows, the answer is yes!

Women are more likely to save in times of crisis.

For the “Europeans in Financial Trouble?” EOS Consumer Study 2023, 7,729 consumers in 13 European countries were asked about whether and how their consumption patterns and payment practices had changed in the last six months. The results clearly show that the energy crisis and associated record-breaking inflation have taken their toll on European consumers in recent months. Many people have adjusted their consumption patterns accordingly: More than one in two survey participants stated that they had become more price-conscious, while many respondents were also resorting to special offers a lot more. However, four out of ten respondents are taking things a step further and going without unnecessary extras. 

A closer look shows that in this context, women are often taking more drastic action than men. For example, 37 percent of male respondents agree with the statement: “I am deliberately doing without non-essential extras”, compared with 41 percent of women. Female respondents were mostly limiting their expenditure on leisure activities, for example dining out (36 percent, men: 30 percent), followed by expenditure on travel (34 percent, men: 32 percent) and clothing (33 percent, men: 23 percent).

Men show a greater interest in finances.

However, the survey’s findings go beyond merely identifying the constraints in certain areas of life. Because the results show that in general, women have a relatively low interest in financial issues. Whereas 43 percent of the male respondents stated that they liked dealing with money and finance-related issues, the figure for women was only 30 percent. There are also significant differences when it comes to anxiety about getting into financial difficulties. This feeling is more pronounced in women: 51 percent of the female respondents say that they are worried about their own financial security, compared with just 42 percent of men. And only 41 percent of women say that they are confident about making decisions on money issues, compared with 54 percent of men.
However, these differences in behavior are not intrinsically gender-specific. Because the survey also reveals that there are distinct factual differences between the survey participants when it comes to financial security. For example, just 18 of female respondents see their financial reserves as sufficient, compared with 27 percent of male respondents. This is a trend that could become even more pronounced in times of rising prices. As a result, women with little financial security could find themselves in a debt spiral. Job security – and consequently, financial security – are essential to prevent developments like these.
Sabrina Ebeling, People Lead Corporate Communications & Marketing bei EOS und Mitbegründerin des Netzwerks W:isible sagt: „Geld und Finanzen sind keine ‚Männersache‘. Ich wünsche mir, dass das Bewusstsein bei Frauen wächst und sie ihre finanzielle Unabhängigkeit selbst in die Hand nehmen.“

Money and finances are not ‘men’s business’. I wish women would become more aware of this and take their financial independence into their own hands.

Sabrina Ebeling
People Lead Corporate Communications & Marketing at EOS and co-founder of the W:isible network.

The key is more knowledge about money and finances.

Sabrina Ebeling is convinced: “Money and finances are not ‘men’s business’.” Alongside her role as People Lead Corporate Communications & Marketing, Sabrina is also very involved in the fe:male W:isible network – a company-wide EOS initiative committed to more diversity and equal opportunities. For Sabrina, empowerment does not stop at the company’s doors: “I wish women would become more aware of this and take their financial independence into their own hands. Then these kinds of survey results would soon be a thing of the past.”

A key to this is knowledge of financial issues. An approximately equal number of men (44 percent) and women (42 percent) would like to learn more about how to handle money. One finding from the survey is encouraging in this context at least: young respondents are the largest group with a thirst for knowledge: 51 percent of 18-to-34-year-olds would like to learn more about money and finances. This therefore shows where societies could start if they want to build financial resilience and prevent widespread debt, regardless of gender.
How is the crisis affecting financial conduct in various European countries? Who is more optimistic about the future – young or old? Gain a detailed overview with the “Europeans in Financial Trouble?” EOS Consumer Study 2023.
Go to survey portal

If you would like to take a look at the detailed results of the study please don’t hesitate to contact us.

Sabrina Ebeling, People Lead Corporate Communications & Marketing at EOS

Sabrina Ebeling
Corporate Communications & Marketing

Phone: +49 40 2850-1480


Carina Bonde, Corporate Communications & Marketing

Carina Bonde
Corporate Communications & Marketing

Phone: + 49 173 2979331


Photo credits: EOS