One in five women are “financially empowered” in their households, according to a new report.
Allianz Life Insurance Company of North America discloses this finding in its “2013 Women, Money & Power Study.” The report bases its conclusions on several benchmark criteria, including women’s activity in major investment decisions, understanding of financial products and interest in learning about financial matters.
As a result of their increased level of engagement, the report states the “woman of influence” is more likely than other women to feel financially secure (79 percent of agreed versus 62 percent of all women surveyed) and more likely to feel confident in her ability to spend, save and invest wisely than the average woman (87 percent agreed versus 69 percent of all women surveyed).
“The compelling thing about the woman of influence is she doesn’t necessarily fit the typical power-woman profile of someone with a six-figure salary and an MBA,” said Katie Libbe, vice president of Consumer Insights for Allianz Life. “While some are that, the woman of influence can just as easily be a stay-at-home mom who is fully engaged in household finances and committed to actively managing her family’s financial future.”