May 7, 2014

Savings Statistics: Men Save More Money Than Women

Read more about Savings Statistics 2014

Among the many things that separate men and women, saving money is another one to add to the list. In a recent study, found that men are putting more money aside than women do.

In every savings category we could come up with, men have tipped the savings scale when pitted against women’s savings habits.

More Money in Current Savings

When asked about their current savings, men reported having more money on hand than women. Just over half (52.4%) of men said they have at least $1,000 in savings compared to just 41.1% of women. This is a disheartening statistic – no matter what gender category you fall into – as $1,000 may be barely enough to cover an unexpected car repair, never mind anyone’s need to save up for a rainy day, a vacation, or just the future.

  • 65.1% of male respondents have "more than $500 in savings at the moment" vs 54.5% of female respondents
  • 52.4% of male respondents have "more than $1,000 in savings at the moment" vs 41.1% of female respondents
  • 21.1% of male respondents have "more than $10,000 in savings at the moment" vs 15.1% of female respondents also discovered that a significant number of both men and women aren’t even trying to save any money right now. Even here, though, men reported doing a little better than women. Whereas 19.4% of men said they’re not saving money at the moment, 26.1% of women confessed they’re not doing so either.

  • 19.4% of male respondents are "not currently saving money" vs 26.1% of female respondents
  • 18.5% of male respondents "add money to [their] savings" on a weekly basis vs 12.7% of female respondents

Winner: Men

Better Prepared for Financial Uncertainties

Most people have savings to cover at least one month of their expenses, but fewer women answered yes to this question than men. Similarly, fewer women than men said they have enough savings for three or six months of expenses.

  • 64.8% of male respondents "have enough money saved to cover one month of expenses" vs 51.5% of female respondents
  • 39.1% of male respondents "have enough saved to cover three months of expenses" vs 27.6% of female respondents
  • 21% of male respondents "have enough saved to cover six months of expenses" vs 14.3% of female respondents

Winner: Men

More Confident About Retirement

It’s not surprising, considering the lack of overall savers in our survey, that just 24.9% of men said they are confident about retirement, while only 19.3% of women said the same thing. Guys also contribute more of their income toward savings. 31.5% of men said they put 15% or more of their income into savings compared to 16.4% of women.

  • 24.9% of male respondents "feel confident about retirement" vs 19.3% of female respondents
  • 13.8% of male respondents contribute over 20% of their income toward savings vs 6.8% of female respondents
  • 24.6% of male respondents put 0% toward savings vs 35.5% of female respondents

Winner: Men

( surveyed 1,235 Americans, age 18 and over between January 10 and January 13, 2014.)

Jasmine Williams is a contributing writer at CreditDonkey, a credit card comparison and reviews website. Write to Jasmine Williams at

More from CreditDonkey:

New Survey: 39.4% Have Less Than $500 in Savings

Monthly Savings Plan

Infographic: Compound Interest

Pay Off Debt or Save

More Articles in News

    New Survey: 39.4% Have Less Than $500 in Savings

    April 23, 2014 - By Jasmine Williams - News for Monthly Savings Plan
    Four in 10 people have not set aside at least $500 in savings, according to a new 2014 survey by, a credit card comparison website. That leaves a very small safety net for emergencies and is pretty risky. For those with lots of ...

Leave a comment about Savings Statistics: Men Save More Money Than Women?

Email (won't be published)


Bank Promotions Survey

Banks are increasing their promotions, but is it enough? The team at CreditDonkey surveyed over 1,100 Americans to find out what it would take for them to switch to another bank. The answer may surprise you.
More Articles in News

About CreditDonkey®
CreditDonkey is a credit card comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

†Advertiser Disclosure: Many of the card offers that appear on this site are from companies from which CreditDonkey receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CreditDonkey does not include all companies or all offers that may be available in the marketplace.

*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.