Why many women put off financial planning and 3 simple steps to get started

As a financial planner who specialises in supporting women, I meet capable, confident female clients every day. Many of them manage successful careers alongside motherhood, caring for elderly relatives, and various other demands on their time, energy, and emotions – all with apparent ease.

However, a surprising number of these successful, affluent women come to me after years of putting off managing their finances. Indeed, intelliflo’s 2025 Advice Map of the UK shows that only 43% of women seek financial advice compared to 51% of men.

For some of my clients, a life event such as divorce or widowhood forces them into action, while others realise their money isn’t working for them as hard as they’d like, and they want this to change.

What’s the reason for this delay? Why do so many women avoid financial planning when they’re otherwise extremely switched on and organised?

Let’s take a look at the practical and psychological reasons why women may be more likely to put off financial planning and engaging with professional advice than men. Then I’ll share three simple ways you could start managing your wealth more effectively and building a roadmap to achieving your goals.

A lack of confidence

Research from the charity National Numeracy (21 May 2025) reveals a persistent financial confidence gap between men and women:

• 17% of women reported low confidence in working with numbers, nearly triple that of men (6%).
• Just 77% of women felt confident in making financial decisions compared to 88% of men.

This lack of confidence could stem from numerous causes, such as societal attitudes – “maths isn’t for girls” – and poor financial education. Perhaps you find the technical jargon involved in money management daunting and off-putting.

Whatever the reason, negative self-talk and limiting beliefs, such as “I’m not good with money”, can be extremely powerful in dissuading you from engaging in financial planning.

Reliance on a partner or family

If you’re used to someone else taking the lead in managing your finances, you might be less motivated to get involved. This might happen if your partner or a family member is more confident and interested in personal finance, or if you have other priorities, such as caring responsibilities.

Over time, this could leave you feeling less practised in making financial decisions, which may make it harder for you to take control should the need arise, for example, if you get divorced.

A fear of judgment or “getting it wrong”

According to National Numeracy (21 May 2025), only 20% of women feel comfortable discussing finances compared to 28% of men.

This may be partly due to a fear of being judged for getting it wrong. Research by Barclays (March 2025) shows that when it comes to investing, 27% of women suffer from “decision paralysis” – delaying taking action out of fear of making the wrong decision – compared to 15% of men.

Unfortunately, this type of thinking often leads to procrastination and inaction when it comes to financial planning.

Conflicting demands

Many of the women I support are in their 50s or older. They’re often juggling demanding careers and caring for children or older relatives alongside managing changes in their health (primarily, the menopause).

With so many competing demands, it’s easy to put financial planning on the back-burner. Unfortunately, this could lead to missed opportunities for retirement saving, growing investments, and tax efficiency.

Difficulty accessing reliable financial advice

For women who lack the confidence or experience to manage their finances independently, finding appropriate professional advice is crucial.

However, Lloyds Wealth’s Women and Wealth Report 2025 found that 23% of women struggled to find an adviser they could trust, and 16% had difficulty finding one who understood their situation.

Moreover, research findings published by Money Marketing (29 April 2025) reveal that 69% of women would prefer to work with a female financial planner. As only 18% of the profession is female, finding suitable support could be a barrier to financial planning for many women.

Read more: Women need tailored financial advice, but most financial advisers miss the mark

3 simple steps to take control of your wealth and plan for the future

Here are three practical ways women can overcome procrastination and apprehension about financial planning:

1. Reframe financial planning as self-care

Rather than seeing wealth management as a tedious or onerous chore, reframe it as caring for your wellbeing (and that of your dependants) both now and in the future.

Effective financial planning puts your goals and dreams at the centre, giving you a strong sense of purpose, motivation, and control. This may be especially beneficial during difficult life events, for example, if you separate from your partner or lose your job. Having a clear plan in place helps to replace uncertainty and stress with clarity and peace of mind.

2. Start with a few specific tasks

If you’ve been putting off managing your finances for some time, trying to do everything at once could feel overwhelming and unmanageable.

Instead, ask yourself, “What are my top three financial concerns right now?” Write them down in order of priority and tackle one at a time.

You might find it helpful to use the SMART goal-setting framework to set clear, actionable next steps.

Read more: SMART goals: 5 steps to effective financial planning

3. Seek advice and support

Financial planning is likely to feel much less intimidating if you have advice and support from an empathetic female professional.

I’ll listen to your concerns and objectives, break complex financial language into plain English, and create a bespoke plan that meets your specific needs and goals.

What’s more, I’ll keep you accountable and be there to help you long term – many of my clients have worked with me for years.

Get in touch

Find out about me and my approach, and learn why you can trust me to help with all your financial planning needs.

If you’d like an informal chat about how we can work together, please get in touch by email at lottie@truefinancialdesign.co.uk or call 03300 889138.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.

All information is correct at the time of writing and is subject to change in the future.

Approved by 2Plan wealth management Ltd on: 17/7/2026