Men deposit more money in the bank. On average, men save SEK 3,450 a month. The women are on the hook with SEK 2,450 a month, according to a new investigation from Avanza.
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Women’s habits
Exactly why is not known. But many women who Felicia Schoen spoken to takes greater responsibility for household expenses. Then the money may not be enough for savings to the same extent.
– I have no data on that. But I often hear from female followers that they stand for home furnishings and children’s clothes to a greater extent, she says News24.
Lower wages, more studies
Part of the answer may lie in the labor market:
– One reason could be that women are educated to a greater extent and therefore live on student income, while more men start working immediately. Women generally also choose more low-paid jobs and have a slightly lower salary on average, she says and continues:
– But I think there are several factors – it can depend on habits, priorities, interest and social norms, she says in an interview with Nyheter24.
Woman? So you can start saving
Women save less…
In addition, men are better at putting the money into fund and share savings. The women leave the money in the savings account. It has been a losing business in the past year with record high inflation – often much higher than the savings yield in return.
– Men are better at taking the step from savings account to investing – when we look more closely at the distribution, we see that men have invested 90 percent of their savings, while the corresponding figure for women is 84 percent, says Felicia Schön.
The women are the stock market’s “real winners”
But the women actually make better investments. This is shown by figures from Avanza, which has 1.9 million customers.
The explanation lies in the spread of risk, believes Avanza’s savings economist Felicia Schön in an interview with Nyheter24.
– The general pattern we see is that women are more passive in their savings – they save regularly through monthly savings and prefer mutual funds. That makes women the real winners, she says.
The explanation lies in the fact that regularity and risk spreading are the key.
And women’s savings patterns dot both of these factors. Every third woman, 31 percent, saves monthly, which can be compared with only 22 percent of men.
Monthly savings create an automatic savings pattern that allows you to dot in both when the stock market price is on the way up to share in ups and downs when shares become cheaper.
In addition, fund saving is by its nature more protected against individual declines in the stock market, as mutual funds accumulate a bundle of shares in often hundreds of companies. Then you are more protected against downturns in individual industries, companies or countries.
Shares or mutual funds? The expert explains
– Men, on the other hand, tend to be more active in their savings, make more deals, log in more often and choose shares rather than funds – but, on the other hand, they save larger sums and have more capital.
Women have 45 percent of their savings in mutual funds and 37 percent in shares. The men only have 31 percent in funds and 53 percent in shares.
What can men learn from women?
– Men, on the other hand, would benefit from taking a little less risk in their savings by having more risk spread, through for example mutual funds, and saving more regularly through monthly savings.
What can women learn from men?
Many women leave the money in the savings account. They are safe there, but since inflation is higher than the savings rate, the money actually becomes less and less valuable in the bank account than in, for example, funds and shares.
– Those women should take more risk in their savings by daring to take the step from a savings account to saving on the stock market in shares or equity funds for their long-term savings. So from the men they can learn to take more risks and to try to save larger sums.
– Women who invest succeed very well, but there are still many women who only save and do not invest, concludes Felicia Schön.
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