Harried for the holidays: Women more likely to experience end-of-year financial distress
To say stress permeates late November through the end of the year is like saying water is wet and Peppermint Patty was too brusque when she panned Charlie Brown’s Thanksgiving dinner.
It seems financial stress during the holidays has grown to be an annual tradition, especially for women. Despite being just as likely to budget their finances as men, financial distress during the holidays is especially pronounced in women who, it turns out, report lower financial well-being throughout the year. While fintech consistently positions itself as a connection capable of narrowing the gap in financial inclusion so prevalent in the United States, adoption rates for women still trail, telling financial institutions they still have major ground to cover to better serve half of America.
The trouble started earlier in the year when the U.S. reopened in the summer and Americans started spending more on travel, dining, and increased overall social activities. Oh, how the holidays tend to sneak up on us. According to CNBC, 38 percent of women are anxious about holiday costs. The summer spending took a toll on stress levels while the much larger issue is the lingering effects of the COVID pandemic.
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