How women can build financial wealth, confidence and security

The path to financial wealth is a marathon not a sprint, but the reality is women are often starting the race a few steps behind – not to mention, often finishing the race a few steps behind as well, as far as super is concerned. Results from AMP’s Retirement Confidence Pulse in 2025 revealed that only 41% of Australian women were confident about retirement, compared with 59% of men¹. 

The results also showed a massive gap in financial literacy compared to the US, Germany and the UK, with 34% of women under 40 understanding the concept of compound interest compared to 61% of men. A hangover, most likely, from a time when controlling the finances was a gendered activity. 

According to Melinda Howes, AMP’s Group Executive, Superannuation and Investments, “Structural change is happening, from stronger pay-equity policies to reforms that help boost women’s super – but it’s not enough on its own.”

Diana Mousina, AMP’s Deputy Chief Economist, believes one part of the equation is education. “Every time we help a woman understand concepts like compound interest, risk and diversification, we’re giving her the tools to build wealth, independence and real confidence,” she says.

While there can be different challenges through different life stages, the first step toward taking control of your financial future, is deciding to take control of your financial future. 

Made the decision? Good. 

This guide features tips and tools to help you get up to speed, take control of your finances and make sure your money’s working as hard as it should be. 

Don’t sleep on your super

Women retire with 25% less in super than men in general². There are a range of reasons for this. Women are more likely to take time out of the workforce to have children, more women work part time and of course, there’s the national gender pay gap to address. Here are few things to consider to help improve the health of your super:  

• Knowing where you stand is the first step to feeling in control. Log in to your super account and get to know your super. Check your balance, fees and investment options, and make sure your super is all in one place.

  If you have multiple super accounts, consider rolling them all into one fund to reduce unnecessary fees. 

• If you can afford it, consider making additional contributions to your super with salary sacrifice. This will reduce your tax and mean more money in your super. Use AMP’s Salary Sacrifice calculator to see how much you can save. Even small, regular extra contributions can add up significantly thanks to compounding returns. 

• Review your investment options to make sure they're on par with your risk level.

• If you take unpaid parental leave and you have a partner who’s still working, or taking paid leave, your partner may want to make spousal contributions to your super so you don’t miss out on any of that juicy compounding while you’re on leave. 

• Don’t be afraid to ask for help. Many super funds now offer digital financial advice and phone-based advice at no additional cost. Talking to your fund or a licensed financial adviser early – especially before making major decisions like taking a career break or downsizing – can make a big difference over time. (AMP Super members can chat to a super coach for no extra fees).

Break the glass ceiling

Climbing the work ladder isn’t always a fair game for females, in fact, the Australian Government’s Workplace Gender Equality Agency's 2024-25 gender pay gap results showed that more than 50% of employers have a gender pay gap larger than 11.2%, in favour of men³. So it’s important to get on the front foot of your career development path to ensure you reach financial empowerment – and there are plenty of ways to get ahead: 

• Sharpen your skills with free online training (or see if your manager will pay for a course!).

• Seek out a mentor who you look up to career-wise and ask them to share their wisdom with regular catch-ups and advice. 

• Look out for networking events and opportunities – it’s not always about what you know, but who you know. 

• Don’t be afraid to advocate for yourself – you don’t get what you don’t ask for! 
   

Get up to speed on your financial literacy

Knowledge is power. Don’t let financial information overwhelm you – break it down and learn from the experts. 

• Create a budget. This is the easiest way to get clarity on what you’re spending and earning and will make it easier to see where you need to cut or save. Looking for a place to start? Check out AMP’s Budget Planning Calculator. 

• Seek out expert blogs and podcasts that break down complex topics and explain them in relatable ways. AMP’s Insights hub is full of guides and articles designed to help you manage your money, like How much super should you have at your age or What are interest rates and why do they matter? AMP’s economics team also shares a fortnightly podcast, Simplifying Investing, which talks about all things finance. 

• Turn a doom scroll into a dollar scroll. Finance content creation is hugely popular on social media, and while it’s not wise to believe everything you see on TikTok, there are plenty of reputable ‘Finfluencers’ breaking things down specifically for Australian women. 

• Consider speaking to a financial advisor for personalised guidance on how to grow your money.

Start a side hustle

Have a passion project? Maybe you’re crafty, or have a good idea for something that’s missing in the market. A side hustle can be a great way to monetise your skills and earn extra income. 

• Create your own website or use online marketplaces and promote your product on social media to help you grow your business. 

• Put your spare time into a gig-economy job and work as much or as little as you’d like.  

• Know a lot about a niche? Consider writing an e-book or running an online course – setting up a passive income stream so you can make money while you sleep.

• Get small-business savvy. The ATO offers free guides, newsletters and courses to help small business owners to get ahead. 

It’s an uneven playing field, and while gender expectations have been slow to shift, things are improving. In the meantime, engaging with your super and becoming financially savvy, is an important part of getting ahead and taking control of your future, and a great step toward financial freedom and ensuring you have the funds you need to retire how you want to when the time comes. 

There’s a lot to think about, but remember, you just need to take one step at a time. It’s a marathon, not a sprint, so start slowly and keep going, and of course, it goes without saying, it’s important to stay hydrated.