05.03.2019
Survey on International Women’s Day: Business and finance of little interest to women
- 4 in 10 women are not interested in business matters
- Almost half of Austrian women believe security investments require large sums of money
- Men are twice as likely as women to invest in funds
Survey on International Women’s Day: Business and finance of little interest to women
- 4 in 10 women are not interested in business matters
- Almost half of Austrian women believe security investments require large sums of money
- Men are twice as likely as women to invest in funds
Men have a much keener interest in business and financial matters than women – such were the findings of a representative Sensor survey conducted on behalf of Erste Bank und Sparkassen. It revealed that, while 58 percent of women are engaged in business-related matters, 42 percent are not interested in them at all. Whereas only 33 percent of men say they cannot get enthused about economic links and developments. This gap is even more pronounced when it comes to finance, where the percentages for both sexes sink further (women: 41 percent vs. men: 61 percent). “Being educated in matters of finance is essential for effectively and actively managing one’s finances. Having well-founded knowledge of financial and economic issues gives people the confidence to make the right financial decisions and build their assets”, says Thomas Schaufler, Director of Private Customer Business at Erste Bank Oesterreich. Erste Bank und Sparkassen provide financial education and promote personal responsibility for finances through initiatives such as the Erste Financial Life Park (FLiP). Since opening two and a half years ago, this educational institution has been positively overrun, with 34,000 visitors already having taken part in nearly 1,900 tours.
Men twice as likely as women to invest in funds
Men have a much keener interest in business and financial matters than women – such were the findings of a representative Sensor survey conducted on behalf of Erste Bank und Sparkassen. It revealed that, while 58 percent of women are engaged in business-related matters, 42 percent are not interested in them at all. Whereas only 33 percent of men say they cannot get enthused about economic links and developments. This gap is even more pronounced when it comes to finance, where the percentages for both sexes sink further (women: 41 percent vs. men: 61 percent). “Being educated in matters of finance is essential for effectively and actively managing one’s finances. Having well-founded knowledge of financial and economic issues gives people the confidence to make the right financial decisions and build their assets”, says Thomas Schaufler, Director of Private Customer Business at Erste Bank Oesterreich. Erste Bank und Sparkassen provide financial education and promote personal responsibility for finances through initiatives such as the Erste Financial Life Park (FLiP). Since opening two and a half years ago, this educational institution has been positively overrun, with 34,000 visitors already having taken part in nearly 1,900 tours.
Men twice as likely as women to invest in funds
Austrians generally focus on security-oriented forms of savings and investment. 85 percent of women classify themselves as security-oriented when it comes to monetary investments, while for men this figure is 75 percent. This conservative approach to investment is also reflected in people’s preferred methods of saving and investment. According to the survey, passbooks continue to be the most popular, with three quarters of both men and women owning one. “But people only relying on passbooks in this low-interest environment will lose money. With inflation at less than two percent and a base lending rate of zero, the loss of purchasing power is clear. Securities are essential for building assets. The capital market is an important asset-management instrument”, says Schaufler.
“But there is an evident chasm when it comes to securities. According to the latest survey, men are twice as likely as women to invest in funds, and three times as likely to have individual securities in their portfolio”, says Karin Kiedler, Head of Market Research at Erste Bank Oesterreich. Except for investment saving schemes, the difference is less, with 21 percent of men and 14 percent of women using this monthly investment method.
Austrians generally focus on security-oriented forms of savings and investment. 85 percent of women classify themselves as security-oriented when it comes to monetary investments, while for men this figure is 75 percent. This conservative approach to investment is also reflected in people’s preferred methods of saving and investment. According to the survey, passbooks continue to be the most popular, with three quarters of both men and women owning one. “But people only relying on passbooks in this low-interest environment will lose money. With inflation at less than two percent and a base lending rate of zero, the loss of purchasing power is clear. Securities are essential for building assets. The capital market is an important asset-management instrument”, says Schaufler.
“But there is an evident chasm when it comes to securities. According to the latest survey, men are twice as likely as women to invest in funds, and three times as likely to have individual securities in their portfolio”, says Karin Kiedler, Head of Market Research at Erste Bank Oesterreich. Except for investment saving schemes, the difference is less, with 21 percent of men and 14 percent of women using this monthly investment method.
Security investments even with small sums
There continues to be a strong preconception that large sums of money are required in order to be able to invest in securities. This mistaken belief is held more commonly by women than men (45 percent vs. 31 percent). But investment saving schemes can work with just 50 Euros a month – which will be of particular interest to new investors”, says Schaufler. The new “s Fonds Plan Mix” product from Erste Bank und Sparkassen offers five different areas which customers can invest in with just 50 Euros a month. And for the first three years, no fees are charged for deposits, minimum deposits or minimum segments up to a total market value of 10,000 Euros. “Our aim is to make investment saving schemes easy and user-friendly”, Schaufler adds.
Only 17 percent of women take an interest in the capital market
The latest survey clearly shows that men and women place different emphasis on securities. While both sexes consider risk to almost the same extent, it is patently evident that men view them much more positively and focus more on the return and opportunities. Only 17 percent of women (men: 35 percent) enjoy dealing with shares, loans etc. because they find them exciting. Most women also believe that securities involve a lot of knowledge and time they don’t want to invest. “But investing time in one’s money matters is time well spent. It would be a good idea to have a quick rethink here and get the best out of one’s finances. I advise setting financial goals and pursuing these consistently”, Schaufler concludes.
About the survey: Sensor surveyed 1003 Austrian women on their interests in business and finance and on their concepts of securities. The results of the online survey are representative of the Austrian population aged 18 and over.
Security investments even with small sums
There continues to be a strong preconception that large sums of money are required in order to be able to invest in securities. This mistaken belief is held more commonly by women than men (45 percent vs. 31 percent). But investment saving schemes can work with just 50 Euros a month – which will be of particular interest to new investors”, says Schaufler. The new “s Fonds Plan Mix” product from Erste Bank und Sparkassen offers five different areas which customers can invest in with just 50 Euros a month. And for the first three years, no fees are charged for deposits, minimum deposits or minimum segments up to a total market value of 10,000 Euros. “Our aim is to make investment saving schemes easy and user-friendly”, Schaufler adds.
Only 17 percent of women take an interest in the capital market
The latest survey clearly shows that men and women place different emphasis on securities. While both sexes consider risk to almost the same extent, it is patently evident that men view them much more positively and focus more on the return and opportunities. Only 17 percent of women (men: 35 percent) enjoy dealing with shares, loans etc. because they find them exciting. Most women also believe that securities involve a lot of knowledge and time they don’t want to invest. “But investing time in one’s money matters is time well spent. It would be a good idea to have a quick rethink here and get the best out of one’s finances. I advise setting financial goals and pursuing these consistently”, Schaufler concludes.
About the survey: Sensor surveyed 1003 Austrian women on their interests in business and finance and on their concepts of securities. The results of the online survey are representative of the Austrian population aged 18 and over.