Verivox Financial Study for Mother's and Father's Day: Family, Home and Financial Planning: Mothers Suffer Multiple Burdens
On the occasion of Mother's and Father's Day, the challenges faced by parents are highlighted. Two-thirds of mothers feel psychologically overwhelmed by the demands of daily life. Many parents suffer from the same stress: one in two parents (50 percent) shares the feeling of psychological stress.
the one who has one
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Financial independence plays an important role, especially for women. These and other results emerge from a representative study by the comparative portal Verivox, which addresses the issue of financial independence and highlights the challenges faced by parents today.
Mothers are especially affected by stress.
The compatibility between family, home and daily organization causes increased stress and psychological tension in many women. This is particularly true for mothers, 65 percent of whom say they feel very overwhelmed by tasks such as financial management, household chores, scheduling appointments, and childcare. This compares to 53 percent of fathers and 51 percent of women overall who report similar feelings. Additionally, more than three-quarters of mothers (76 percent) say that psychological stress has a negative impact on their personal well-being, a higher proportion than fathers (66 percent).
Financial independence as a central aspect of life
The study also highlights the high priority of financial independence for women: 83 percent of women surveyed consider it especially important, compared to 79 percent of men. For women with children it is 80 percent. Sandra Vollmer, CEO of Verivox, explains: “The goal of financial independence presents mothers with special challenges, as they often have to juggle parenting with their own professional development. “Parental leave, parental leave and part-time work often make it difficult to continually create your own financial cushion and secure your own long-term future.”
Women value financial independence and security in the future more than men
The study results also show that women perceive financial independence more positively than men: 87 percent of women feel that financial independence allows them to determine their own lives, compared to 77 percent of men . For 86 percent of women, financial independence also reduces feelings of dependence on others, compared to 79 percent of men. It's also interesting that being able to plan for the future more easily is more important to women (85 percent) than men (78 percent).
Financial independence and financial education are directly related
The Verivox study shows a clear connection between the pursuit of financial independence and interest in financial education. The question was how important personal financial independence is compared to other life goals. It turned out that 85 percent of participants for whom financial education is important or very important attached great importance to financial independence. In contrast, only 54 percent of respondents who consider financial education to be less important give financial independence an equally high priority.
methodology
The survey was carried out in November 2023 on behalf of Verivox by the opinion research institute Innofact and is based on the responses of 2,497 people from an ISO-certified online panel with around 500,000 members. The participants, 33.8 percent men and 66.2 percent women, valued the importance of financial independence in their lives.