Money Wellness
Illustrated image of a mix of women making a heart sign with their hands. Women and debt
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calendar icon08 Mar 2024

International Women’s Day – 8 March 2024

International Women’s Day (IWD) is a day to celebrate the achievements of women and promote women’s rights. And let’s face it every woman is a hero in her own way.

It’s also a day to raise awareness and call for action on issues such as gender equality, reproductive rights and violence and abuse against women.

On International Women’s Day we want to shine a light on how women are disproportionately affected by money problems.

We see more women seeking debt support than men. This doesn’t mean that they’re more inclined to spend or manage money badly. The reasons are far more complex and more likely the result of unforeseen life events such as relationships ending, becoming a single parent, taking time out of the workforce to raise babies or domestic abuse.

Women are more likely to be in low-paid work than men and have fewer savings to fall back on.

It is also more common for women to deal with household bills and have them registered in their name – e.g.,75% of all those prosecuted for TV licence evasion are women.

And there’s evidence to suggest that women are more comfortable to talk about their problems, leading them to be more inclined to seek help with their debt.

Unsurprisingly then, the Women and Equalities Committee found that women were at the sharp end of the cost of living crisis.

Chair of the committee, Caroline Noakes MP said: “When money is tight, women act as the ‘shock absorbers’ of poverty, going without food, clothes, or heating to protect other family members.

So what help is available?

If you find yourself struggling to make ends meet, you’re definitely not alone.

Take control of your finances.

We can help find the best debt solution for your personal circumstances.

We can also check you’re claiming all the benefits you’re entitled to with our free benefits calculator. About £19 billion in benefits goes unclaimed every year. On average, we find people are missing out on an extra £1,000 of financial assistance a month.

Here are some other organisations who can help:

Turn2Us

Money Helper

Trussell Trust

Refuge

Young Women’s Trust

Woman’s Aid  

Avatar of Caroline Chell

Caroline Chell

Caroline has worked in financial communications for more than 10 years, writing content on subjects such as pensions, mortgages, loans and credit cards, as well as stockbroking and investment advice.

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