Study Shows Women Can Manage Household Expenses Only For 14 Days With No Income. Gender Pay Gap Is The Root Cause!

Study Shows Women Can Manage Household Expenses Only For 14 Days With No Income. Gender Pay Gap Is The Root Cause!

The lives of women are not easy, like let’s agree. The fact that she still is expected to find a balance between work and household chores is a very sad reality that needs to change. And even after giving their best everywhere, women still have to be victims of injustice. And talking about that, how can we forget the gender pay gap that exists across the world? And now there are numerous types of research that highlight the various other problems that the gender pay gap can create for women. And honestly, it is scary to know even after all the hard work, women remain vulnerable to facing a cost-of-living crisis. The results of a recent study by Legal And General have revealed that women can only manage their living for 14 days if they lose their source of income. And some other points that have come out from the study are alarming.

The study carried out by Legal and General pointed out that on average men can handle their household expenses for 28 days but in the case of women, it is just 14 days. In fact, women also have fewer savings and investments in comparison to men. Due to this, women are most likely the ones who cut down more on their luxurious expenses and even try to curtail their expenses on necessities as much as possible. The study also shows that women on average overestimate their household expenses for 60 days before they completely go broke as compared to men who assume it is 90 days, as per reports.

Also Read: Study Reveals Women’s Earnings Continue To Drop After Childbirth. Is Gender Pay Gap Progress A Myth

This reminds me that there was also a study that showed women at retirement only attain 74% of the wealth that men attain at retirement. Now, there are two major reasons that add up to such stressful financial problems for women, one being that the gender pay gap heavily exists in the job market. And secondly, household tasks, and child responsibilities, are some phenomena that hinder a woman’s career. Only if she gets the required support and division of tasks here, there would one thing be less for women to stress about.

Also Read: Research Shows Women Attain Just 74% Of The Wealth Men Earn At Retirement. India Has The Largest Gender Wealth Equity

Women from across the sectors have come up to speak about the large gender pay gap that exists in their respective sectors. Yet there has still been no real progress made except of course for a few handfuls of women who hold higher positions in the firm. That too women take up an insignificant percentage of executive posts.

Study Reveals Women’s Earnings Continue To Drop After Childbirth. Is Gender Pay Gap Progress A Myth?

Pragya Dubey

Pragya Dubey is an introvert who prefers expressing herself through words. She believes in logical arguments and watches thrillers to escape the mundane realities of life!

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