Women are significantly more likely to be concerned about the impact of coronavirus on their finances compared to men, research suggests.
A poll for Quilter shows that 59% of women are “likely to be concerned” about the impact of COVID-19 on their finances compared to 44% of men.
The poll also highlighted a “marked difference” in ages as women and men aged 30-45 years old are also having sleepless nights over their finances with 27%, saying they are “very concerned” and 36.3% feeling “slightly concerned”.
This compares to those aged 75 and over, just 5% of whom were very concerned and 15% which were slightly concerned.
Jane Goodland, Corporate Affairs Director at Quilter said that anxiety has been high across the country as people are “bombarded” with concerns about their health, their loved ones and their jobs among other things.
“Financial strain has a very real capacity to being an unwelcome cherry on top,” she said.
“We know mental health is deeply linked to the state of one’s finances. Living in financial stress can lead to mental health issues problems and those with mental health issues often find it difficult to cope with their finances.
“Our research shows some groups are feeling the current strain more than others, including women and those aged 30 to 45 years old, who are likely to have young families.
“These are extraordinary times and we need to support each other. If you are struggling with your finances there is no reason you should bear the burden alone, there are many who are in the same position as you. If you are not in charge of the household finances then ask the person that is. This needs to be an open and honest conversation.”