New study shows:

Women save 41 percent less than men

Lower income, more part-time work, living alone more often or being a single parent - women are often able to set aside significantly less than men.

(Bild: Pressefoto Scharinger © Daniel Scharinger)

Alarming figures were presented by bank99 on Thursday: according to a new study, women only set aside an average of 166 euros per month, compared to 284 euros for men - a difference of 41 percent. The study also shows in which federal states people save the most.

Saving is very important in Austria. According to a representative survey of 1,000 people conducted by marketmind on behalf of bank99, saving is fundamentally important to six out of ten Austrians. Most respondents set aside an average of 225 euros per month.

The most important factor for savings potential is income.
Men save the highest amounts at 284 euros. For women, the figure is 41 percent lower at 166 euros. This is because not everyone who wants to save is able to do so. The amount set aside clearly depends largely on income. For example, saving with a net household income of less than EUR 2,000 (average monthly savings amount: EUR 115) and for people who are not in employment is significantly more difficult due to pension (EUR 132), maternity leave (EUR 85) and unemployment (approx. EUR 60).

Women are at a major disadvantage when it comes to saving.

Patricia Kasandziev, Vorständin der bank99

Those who work full-time save an average of 304 euros
Employment (part-time: EUR 201 versus full-time: EUR 304) and the housing situation also influence the savings behavior of Austrians. People in couple households without children and those who still live with their parents set aside significantly more than parents or people in single households. Women with a net household income of between 1000 and 2000 euros can only save 101 euros per month. Women working in the household or women on (educational) parental leave can only save around 60 euros.

Patricia Kasandziev, bank99: "Even part-time employment reduces the savings potential by a third - and that affects half of all women in Austria. The risk of poverty in old age is therefore significantly higher for them."

(Bild: bank99)

"There is a 'gender savings gap'"
Patricia Kasandziev, Member of the Management Board for Market & Digitalization at bank99: "Women are at a major disadvantage when it comes to saving, as several factors often come together: lower income, more part-time work, living alone more often, single parenthood, significantly less financial knowledge. As a result, they also use less profitable forms of saving and investment. There is a real 'gender savings gap'. A look at the savings amounts between the sexes reveals a difference of 41 percent. Even part-time employment reduces savings opportunities by a third - and this affects half of all women in Austria. The risk of poverty in old age is therefore significantly higher for them. As bank99, we want to do our utmost and provide targeted information with personal advice."

Tyroleans save the most, Burgenlanders the least
The study also shows the differences between the federal states: People in Tyrol are able to put the most aside (282 euros), followed by Upper Austria (271 euros) and Vorarlberg (263 euros). Lower Austria (221 euros) and Vienna (214 euros) are in the middle, while Carinthia (201 euros), Styria (200 euros) and Salzburg (166 euros) are clearly below the average. Burgenland brings up the rear with a monthly savings sum of 137 euros. The level of education also plays a role: those with a school-leaving certificate save an average of EUR 319, those without EUR 180.