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Overview of Women’s Saving Trends in 2025
Despite the existing gender wealth gap, women are managing to save nearly as much as men in 2025. According to New York Life’s 2025 New Year Outlook Wealth Watch survey, women are contributing an average of around $1,825 per month to their savings, compared to men’s $2,352. However, women tend to have lower expectations regarding their saving capabilities. They aim to save only about 53% of what men plan to save this year — $9,464 compared to $17,963.
In our “Financially Savvy Female” series, we spoke with Jessica Ruggles, corporate vice president of financial wellness at New York Life, about reasons behind the savings disparity between genders and strategies for women to enhance their financial goals.
Why Are Men Saving More Than Women?
Several intertwined structural, social, and economic factors contribute to the savings discrepancy. According to the Pew Research Center, women earned approximately 85% of men’s earnings in 2024, a marginal change from 20 years ago when they earned 81%. This wage gap impacts women’s saving potential significantly, leading to both short- and long-term wealth gaps.
For many women, particularly those in the “sandwich generation” who juggle caring for children and elderly family members, caregiving responsibilities can lead to interrupted careers. This trend further contributes to women earning less, which negatively impacts their ability to save and invest for the future.
Lower Savings Expectations
The effects of the wealth gap and caregiving duties shape the financial behavior of women, leading to lower savings expectations. While data shows that women saved about 78% of what men did in 2024, they project their savings expectations to be only 53% of men’s aim this year.
Studies indicate that women often feel less assured about their financial futures than men; 16% of women lack confidence that their retirement savings will last a lifetime, compared to just 7% of men.
Setting Savings Goals
In 2025, the priority for both men and women is to establish emergency savings. Financial security hinges on having a buffer to cover three to six months of living expenses. Building this cushion is essential for resilience in facing unexpected financial hurdles.
Personal financial management is, by nature, unique to every individual. The amount one should save varies based on personal goals and responsibilities. The key is to set actionable financial objectives and regularly assess them as life evolves.
Tips for Boosting Savings
Women should leverage workplace benefits aimed at supporting caregivers and addressing women’s specific needs. An increasing number of employers are introducing tailored programs that focus on various life events impacting women.
Participation in available benefits can significantly boost women’s financial well-being. Despite this, data reveals that many women still do not enroll in workplace benefits, emphasizing the need for education on available support structures.
Engaging with a financial professional can also facilitate healthier saving habits and increase confidence in financial management. Personalized advice is crucial for navigating financial journeys and achieving both personal and professional aspirations. Given that women typically live longer than men, it becomes even more crucial to strategically build savings to ensure a secure retirement.
