Millennial women lag behind millennial men on a couple of key money metrics, like the amount they have in emergency savings and the feeling that they're financially adequate, according to a new report from MetLife.
Just 54% of millennial women report feeling in control of their finances, compared to 76% of men in the same generation (those ages 23-36), reports MetLife's 17th annual U.S. Employee Benefit Trends Study, which surveyed 2,675 full-time employees of all ages. Additionally, only 48% of millennial women say they have three months' worth of emergency savings, while almost 70% of men do.
While six in 10 employees of any age say they are confident in their financial well-being, per the study, around half also report living paycheck-to-paycheck. There is a pronounced gender difference here too: Overall, 55% of women report living paycheck-to-paycheck, while just 44% of men do.
Previous reports have also found that women and men tend to approach money differently. Men are more likely to take risks, such as investing in bitcoin, while women generally prefer more conservative products, like money market funds or CDs.