Six easy steps women can take to improve their financial outcomes

These empowering strategies can help women take bigger financial strides over the long term.

International Women’s Day (IWD) is celebrated worldwide on 8 March every year to highlight women’s social, economic, cultural, and political achievements.

At the same time, IWD draws attention to ongoing challenges faced by many women, including financial inequality.

Various federal government data shows that Australian women typically earn less than men and have lower superannuation balances. There are also fewer female investors than men, according to the ASX Australian Investor Study 2023, and females who do invest often have more conservative investment strategies than men.

But women can potentially improve their long-term financial outcomes in a range of ways.

We draw on a number of previously published Smart Investing articles to list six ways women can take steps to get financially ahead.

1. Understand the basics of investing

For anyone starting their investment journey, it’s important to understand your financial capabilities and to create clear and achievable long-term goals. Read five investing tips for beginner investors.

2. Consider seeking financial advice

Vanguard research has shown the people who engage with a financial adviser generally will take more purposeful action to prepare for retirement, particularly in debt management and budgeting, and are much more likely to be confident in funding their retirement. Read the strong link between advice and retirement confidence.

3. The importance of budgeting

Putting some money aside in order to achieve financial goals must first involve knowing where money is being spent. That way it’s easy ways to potentially reduce expenses and increase savings. There are various types of budgeting strategies. Read about the envelope methodthe pay-yourself-first methodthe 50/30/20 method; and the zero-based budget method.

4. Starting the investing process

There’s a common misperception that in order to start investing, you need a large initial sum and lots of time. Here’s why this is a myth. Read how much money and time do you really need to start investing?

5. The power of making regular investments

A simple ongoing investment strategy can deliver substantial returns over the long term. Just by adding $100 per month, an initial investment of $1,000 into the broad Australian share market on 1 July 1993 would have compounded to more than $166,000 by 30 June 2023. Read how regular investments turned $1,000 into $775,000.

6. Make extra contributions to your super

Even small additional contributions have the potential to boost your retirement savings, thanks to the low tax rates on super contributions, potential investment earnings, and compounding growth over the long term. Read five ways to top up your super before 30 June.


Women face a range of financial challenges; however, various steps can be taken to overcome obstacles and achieve long-term financial success.

Seeking out financial education and resources, building a strong support network, and working with trusted financial advisers can help women navigate the complexities of investing and build a secure financial future.

For help and assistance, reach out to our team here.

Source: Vanguard

Important Information

“This publication features the personal opinions and experiences of three retail clients of Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263). These views are presented for informational purposes only and do not constitute financial advice. Vanguard Investments Australia Ltd (ABN 72 072 881 086 / AFS Licence 227263) does not endorse or guarantee the accuracy of the opinions expressed in this publication. Readers are encouraged to conduct their own research and seek professional financial advice before making any investment decisions.”