WASHINGTON-CUNA last week released results of its Women's Financial Survey, which found the most important financial concern for women isn't buying a house or paying off debt, but saving for retirement.
The survey fond women use 401(k)s (45.3%) and pension plans (35.8%) the most to save for retirement, while 40% of women reported owning multiple retirement plans.
But it also found that some 51.2% lack confidence in their ability to manage finances, even as 38% of married female respondents indicated they manage their household finances exclusively and 46% co-manage their household finances. CUNA said this finding was particularly true with the youngest demographic, those born between 1980-93, where 59.1% said they lacked financial confidence.
Another finding: fewer than half of the respondents across all demographics reported following a monthly budget, which is critical to efficiently manage any finances.
