While there’s been a little improvement in the financial capability of women, they still trail men in being able to make ends meet or covering a financial emergency. That’s according to a report by the TIAA Institute and the Global Financial Literacy Excellence Center, which finds that despite improvement over the study period—2012 through 2015—certain subgroups are still exhibiting financial distress.
In 2015, three-quarters of working women held at least one form of long-term debt, the study found, with many carrying too much debt. Even worse, working women are not prepared for retirement. The majority don’t even plan for it, while two-thirds fear running out of money once they do retire.
In addition, 54 percent of working women do still find it tough to meet all their monthly expenses. Those just beginning their careers, those with lower levels of education and African American women find it particularly difficult.