Young women tend to be more financially responsible than young men, but they’re still struggling against economic inequality.
According to a recent report from Charlotte-based LendingTree, women in the millennial generation, born between 1980 and 1995, have higher credit scores and more responsible financial priorities than men, but trail their male counterparts when it comes to financial satisfaction and security.
In a survey, LendingTree found that the average credit score for millennial women is 666, slightly higher than that of men, whose score is 661. Yet women trailed men in homeownership: While 56 percent of men owned their home, only 44 percent of women said the same.
When asked to name their top financial priority for the next 12 to 24 months, women named growing their savings account, while men named increasing their income.
In the survey, millennial women carried an average of $68,834 in debt, while men reported an average of $53,017.