A third of women in the UK are saving less than £100 per month a report from Schroders Personal Wealth has found.
The 'real cost of inequality' report revealed the financial gaps between men and women, showing just 17 per cent of women feel very confident about achieving long-term financial goals compared with 29 per cent of men.
More than half of the women surveyed said a lack of extra cash was their main barrier to investing, with just a quarter of women having stocks and shares Isas compared to 45 per cent of men.
When it came to inheritance, 13 per cent were very confident they would be able to leave money behind for family compared with 22 per cent of men.
Katie Nutting, financial planning director at SPW, said: "Addressing gendered financial disparities requires systemic change – but individual actions can help. From small but consistent savings to investment options, there are practical ways which aim to enhance women’s financial security, even in uncertain times."
The report set out practical steps for women to increase their financial security including speaking to an adviser to increase understanding of key financial principles. It also suggested automating contributions for savings and investments.
Sean Ingram, chief marketing officer at SPW, added: “We recognise that achieving financial independence is a critical challenge many women face, through choice or when their circumstances change through divorce or loss of a partner.
"Our Women and Wealth report highlights our commitment to empowering women at every stage of their financial journey, from those who need advice to help ensure they are more financially secure to those who need a plan for the next generation. In doing so, we hope to enhance women's financial confidence and empower them to take control of their financial futures.”
tara.o'connor@ft.com
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