According to a recent Vanguard survey, when it comes to finances, more than 70 percent of women say they feel confident about saving money, but nearly half of respondents hold savings that may not be keeping pace with inflation.

Forty-six percent save in low-yield accounts that earn less than 3 percent. Additionally, 20 percent of women surveyed reported having no savings other than those designated for retirement.

“Savings are a crucial part of everyone’s holistic financial strategy, and yet, the survey found a clear disconnect between women’s overarching financial goals and how and where they save,” said Sonia Fraher, Head of Cash Management at Vanguard. “The good news is that identifying this disconnect creates opportunity to decide if you want to change course by taking stock of where you are saving to ensure you’re earning the interest you deserve. This is especially important since savings, compounded over time, can have a meaningful impact on women’s overall wealth and financial well-being.”

Priorities vs Reality: Why Savings Goals Fall Short

Nearly half of women listed financial security as their primary savings goal. However, competing priorities often interfere:

• Women self-reported their top three financial regrets as: Spending money on something they didn’t need (27 percent), waiting too long to save for an important goal (18 percent), or helping family or friends financially when they should have prioritized their own savings (14 percent).
• Nearly half (47 percent) used their savings at least once in the past year for something other than their primary goal, with 14 percent having done this four or more times.

Where Opportunity Emerges: Insights from Women on What Would Fuel Change  

Women noted that a trusted recommendation (35 percent), more available education (30 percent), and guidance from a certified professional (29 percent) would make them feel more confident about transitioning to a high-yield savings option.

• Forty three percent of Gen Z respondents, more than any other generation, would feel more confident about changing their savings strategy after receiving a recommendation from someone they trusted.
• Millennials (37 percent) would feel more confident about switching to a high-yield savings option as a result of additional education.
• Mothers reported being more open to changing their savings strategy (83 percent vs. 70 percent of all women) if they were to receive additional education about all available options.

“I work with many women, particularly mothers, who are juggling competing priorities and often putting their own financial goals on hold,” said Tiana Patillo, CFP, and Financial Advisor Manager at Vanguard. “As a mother myself, I understand those tradeoffs firsthand. At Vanguard, we believe closing the gap starts with clear, accessible information that helps women understand their goals, commit to a plan, and make their savings work harder so they can make confident decisions for themselves and their families—and that’s what we work to do every day.”

There is clear opportunity for women to optimize their savings strategies and one place to start is by revisiting where they are saving to ensure they are earning strong interest. With more than 500,000 accounts opened since its launch in March of 2024, one high-yield option to consider is Vanguard’s Cash Plus Account, which offers a bank sweep annual percentage yield of 3.35 percent¹ as of May 6, 2026 and features like mobile check deposit, direct deposit, and compatibility with PayPal and Venmo².

Learn more about Vanguard Cash Plus at Vanguard. For savings techniques and strategies, visit Investor Resources.

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