Women in Finland are more pessimistic than men about their financial future and employment prospects, according to the European Consumer Payment Report 2024 by credit management company Intrum. The study highlights significant gender differences in concerns about job security, economic stability, and debt.
The report reveals that 61% of Finnish women believe it will be difficult for them to accumulate wealth, regardless of how hard they work or save.
Among men, the figure is 47%. These concerns about financial security may have broad societal implications, says Juha Iskala, Commercial Director at Intrum Finland.
"If people feel that hard work and saving are not enough to ensure financial security, economic stress can increase. Uncertainty affects major life decisions, such as starting a family, pursuing further education, or making investments. It can also weaken motivation to seek better career opportunities," Iskala explains.
Women more concerned about unemployment and AI impact
The study also found that women are more worried about job security. Of the respondents, 59% of women and 53% of men expected unemployment in Finland to rise significantly over the next two years. Women were also more concerned about the impact of artificial intelligence on their jobs and earnings, with 16% expressing concern compared to 10% of men.
Despite these concerns, Finland’s employment statistics show that women’s unemployment rate in January 2025 was 8.8%, lower than the 10.2% rate for men.
Women also reported greater difficulty in managing their debts. In the study, 17% of women said they struggled to meet their financial obligations, compared to 13% of men. However, Intrum's debt collection data shows that men are slightly more likely than women to face debt collection procedures, a trend that has remained stable in recent years.
The most common reasons for financial difficulties among both genders were high living costs, stagnant wages, and rising interest rates. However, women were more likely than men to cite stagnant earnings and unexpected expenses as primary causes of their debt problems. In contrast, men more often attributed their financial struggles to difficulties in tracking their spending.
Only 16% of women believed Finland’s economic situation would improve, compared to 24% of men. According to Iskala, addressing this financial pessimism requires action on multiple fronts.
"Closing the gender pay gap, increasing career opportunities, strengthening financial literacy, improving social safety nets, and promoting flexible work arrangements could help build confidence in the future. It's also essential to take women's financial concerns seriously and empower them with the tools to manage their finances effectively," he says.
The European Consumer Payment Report 2024 is based on a survey conducted in 20 European countries by Longitude, a third-party research firm. A total of 20,000 consumers participated in the study, with data collected between 4 July and 25 August 2024.
HT
