Money Wellness
A mum and her young son trying to keep warm by a radiator
category iconcost of living
calendar icon28 Sep 2023

Women ‘hit harder by the cost-of-living crisis’

The cost-of-living crisis is disproportionately affecting women, according to the head of a House of Commons select committee.

Chair of the Women and Equalities Committee, Caroline Nokes said:

“When money is tight, women act as the ‘shock absorbers’ of poverty, going without food, clothes, or heating to protect other family members.”

Inquiry launched

The Committee has launched an inquiry looking at the impact of rising costs on women’s lives and what the government is doing to help.

It will examine the short and long-term effects on women from a range of backgrounds, including:

  • low income
  • middle income
  • single parents
  • larger families

Why women are suffering more

Nokes explained women:

  • are more likely to be in low-paid work
  • have lower savings
  • are more likely to be in debt

She also pointed out:

“Women usually take on the majority of unpaid labour, including caring responsibilities, which may affect their ability to work more hours in order to absorb increased costs.”

Certain groups particularly vulnerable

Some women are more vulnerable than others when it comes to rising prices. Nokes said:

“Problems are particularly acute for women from ethnic groups with higher rates of poverty, disabled women, survivors of domestic and financial abuse, and women with ‘no recourse to public funds’.”

If you’re struggling

We can help if you’re struggling to manage due to rising costs. Get in touch:

  • for budgeting help
  • to check you’re getting the benefits you’re entitled to
  • for advice on debt solutions

All our advice is free, so finding out what your options are won’t cost a thing. Some debt solutions are also free. For others, there’s a fee.

You can access our debt help 24/7 online. Or if you prefer to talk to someone on the phone, call us on 0161 518 8285. We’re here 8am to 8pm Monday to Friday and between 10am and 4pm over the weekend.

 

Avatar of Rebecca Routledge

Rebecca Routledge

A qualified journalist for over 15 years with a background in financial services. Rebecca is Money Wellness’s consumer champion, helping you improve your financial wellbeing by providing information on everything from income maximisation to budgeting and saving tips.

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