HSBC UK has warned two in three women don’t feel confident about investing money. One in four women (27%) say they don’t invest because they don’t know enough about it, the high street bank has also found, and over a third of women (34%) do not have any savings.
HSBC UK has launched “inspiring money confidence” webinars for women as a result. HSBC UK’s Director of Wealth Distribution, Rebecca Owers, says: “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.”
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The bank has teamed up with Katy Hill, who will share her expertise as a performance and success coach in HSBC UK’s webinar on investing held on International Women’s Day (8 March). Katy Hill says: “Through my Coaching Practice I equip and empower women to get in the driver’s seat of all areas of life, get intentional with their actions and take back control.
“A key area of our lives is income, and saving and investing are key to changing your money story. However, only 27% of women believe they have enough information to be able to invest, so I’m excited to be a part of HSBC UK’s programme to help change this.
“I know from my own practice that talking openly about personal issues such as money can help empower women and build confidence. It’s positive that HSBC UK are taking steps to support women with the knowledge to make informed choices.”
