Thu, Apr 02, 2009 - Page 11 News List

Survey finds that women rate low on financial well-being

STAFF WRITER, WITH CNA

The levels of financial well-being are low among women, most of whom spend less than 30 minutes per week managing their personal finances, the results of a survey released yesterday by Citibank Taiwan showed.

The financial well-being index among local women averaged only 45.9 on a 100-point scale last year with the lowest level among women in the 18-29 age group, at 43.3, followed by those in the 30-39 age group, at 45.6. Those aged 40 and older were slightly better, at 47.7.

The survey was conducted online between Oct. 15 and Oct. 20 among 200 women aged 18 and older who held a bank account or credit card.

It had a margin of error of 7.1 percentage points.

The annual income of the respondents averaged NT$386,000 (US$11,386) among the 18-29 age group, NT$454,000 among the 30-39 age group and NT$704,000 among those aged 40 and older.

The survey found that on average, the respondents spent 36 minutes per week managing their personal finances, with 62 percent of the respondents spending less than 30 minutes per week.

On average, 30 minutes per week were spent by those in the 18-29 age group and 38 minutes per week by those aged 30 and older.

In the event of unemployment, the savings of the respondents could support them for an average of 10.2 weeks.

Approximately 35 percent of respondents put aside up to 10 percent of their monthly income in the form of savings, while 27 percent put aside over 30 percent. Only 9 percent of the respondents said they did not save money.

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