Gender Pay Gap: Women Face Financial Struggles Living Paycheck to Paycheck
A recent report from Varo Bank reveals that women are "significantly more likely" than men to live paycheck to paycheck, with 59% of women and 41% of men facing financial difficulties. This discrepancy is attributed to factors such as the gender wage gap and women's roles as caregivers, leading to breaks in their careers or part-time work. The persistent wealth discrepancy is particularly challenging for women nearing retirement. Financial literacy is emphasized as crucial for women to achieve financial stability, with experts recommending meeting with financial advisors and taking an active role in financial decision-making.