From Morningstar: 2024-04-29 10:09:00

Alexia de Broglie, co-founder of Your Juno, discusses the importance of financial literacy for women. She notes that women in the UK are paid 14% less than men, but the gender wealth gap is 35% lower. She attributes this gap to differences in financial education, career choices, and spending habits between men and women.

De Broglie emphasizes the need for society to address these disparities early on, as girls receive less pocket money and are taught to save, while boys are encouraged to plan their careers. She explains how these societal norms contribute to women retiring with investment pots one-fifth the size of men’s. Additionally, she highlights the impact of women’s spending habits on their long-term financial security, particularly in the event of divorce.

Drawing from her upbringing in a household that openly discussed money, De Broglie emphasizes the importance of normalizing conversations around finances. She shares how her mother’s hands-on approach to teaching budgeting and financial responsibility at a young age shaped her perspective on money. De Broglie stresses the need for non-judgmental spaces and inclusive financial products that cater to women’s specific needs and priorities.

In addressing the gender gap in financial education and product uptake, De Broglie emphasizes the importance of diversity in the financial industry. She points out that only 30% of women work in finance, with even fewer in leadership roles. De Broglie calls for greater representation of women in decision-making positions to ensure that financial products address gender-specific needs and challenges. She also highlights the need for data-informed product decisions that account for gender differences and target female-centric problems.



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