Women and financial literacy in spain. Does marital status matter?

ABSTRACT

This study focuses on the joint effect of gender and marital status on financial literacy. The study is based on the data of 7,456 adults who responded to the Financial Competencies Survey (2016), conducted by the Bank of Spain. The results revealed that married/couple women have a lower level of financial literacy than married/couple men, perhaps because men often make decisions regarding family finances, while women are often in charge of other homework. This may have important consequences for the financial autonomy of women of all ages, especially as they aging.

KEYWORDS:

• Women
• financial literacy
• marital status

Disclosure statement

No potential conflict of interest was reported by the author(s).

Notes

1. All estimates have been made with the STATA 14 econometric package.

2. See Stolper and Walter (2017) for a review of financial literacy and financial advice.

Additional information

Funding

The authors received no financial support for the research, authorship, and/or publication of this article.