The Financial Literacy: Is it Just a Dream for Woman?

The VISA International Barometer on Women’s Financial Literacy does not give us a positive notion. The survey was conducted among the 25,000 women from 27 countries. The questions included in the survey were

Do you have and follow a household budget?

According to this survey the initiation for the budgeting of women were lower than men. Women from Brazil, the US, South Africa and Canada fared better in having and following a household budget. Women from Pakistan and Serbia found to be in the bottom of the list.. Russian and Belarus woman almost follow their budget if they have. Lack of fund found to be the main reason behind not having a budget.



How many months’ worth of savings do you have set aside for an emergency?

More than 3 months of savings were accrued for emergencies by the women in Taiwan, China and Hong Kong. They found to be more cautious about the emergency. Well, men are better in this also but only women in Australia succeeded men in this. Generally Asian women found to be more financially literate with more savings for emergencies. Women in Egypt, Serbia and Ukraine were the poorest performers in this category and the weakest in this category is Pakistan. Their savings are just an average of 0.7months expenses which kept aside.


How often do you talk to your children ages 5-17, about money management issues?

It seems only Mexican and Brazilian women are bothered about spreading financial awareness into their younger generation! They speak to their kids about 41.7 weeks on money management. The worst countries are South Africa and Indonesia. Brazilian women spend 39.5 weeks and the least bothered ladies in this category are in Vietnam; they take only 3.9 weeks.

To what extent would you say that the teenagers and young adults in your country understand the money management basics are adequately prepared to manage their own money?

Only Vietnamese women are more hopeful about the financial literacy of their young adults and the financial management capabilities. After that Indian and Indonesian women. The losers are Canada, Bosnia and the USA.


At what age do you think the governments should require schools to teach financial literacy to children, so that they can better understand money management issues?

Most women in the world think that the proper age for financial literacy classes is around 11 years. But Brazilian women suggest around 8 years and Vietnamese around 13.