Only About 2 in 3 Women Feel Financially Secure. Take These Steps to Feel Better About Your Finances

It's natural to worry about financial matters from time to time -- we all do it. But it's another thing to be constantly plagued with feelings of financial insecurity. And if you're in the latter category, it's really important that you try to break that cycle.

Only 64% of women today feel financially secure, according to a survey from Allianz Life of respondents with an annual household income of $30,000 or more. So basic math tells us that more than one-third (36%) of women today feel insecure about financial matters, and that's not a good thing. If you're feeling shaky about your finances, here are some steps to take to get to a better place.

1. Build yourself an emergency fund

An estimated 63% of Americans don't have the money in a savings account to cover a $500 emergency expense, according to a survey done last year by SecureSave. So if you're sitting on almost no money in the bank for surprise bills, you're certainly not alone.

But a big reason for your financial insecurity may be that you know you're just one unexpected expense away from landing in credit card debt. So do your best in the coming months to build up an emergency fund.

In time, you should aim for enough savings to cover three full months of essential living expenses (or more, if you're able and so inclined). For now, try to save something each month so you have a modest cushion by the end of the year. If you can bank $63 a month starting now, that gives you a $500 safety net by the close of 2024, which is far better than a safety net of $0.

If you're not the highest wage earner, you may need to turn to the gig economy to drum up extra cash. But going this route could make it so you're able to save well more than $63 a month.

2. Get on a path to retirement savings

You may be feeling like you'll never end up in a position where you can retire. A lot of people feel that way. And it could stem from the fact that the average American only has $88,400 set aside for their senior years, according to Northwestern Mutual, when many people feel like it'll take $1.46 million to retire in a comfortable manner.

But don't stress if you haven't started saving for retirement yet. Instead, start right now.

Take a look at your budget and see how much money is feasible to set aside for retirement savings. It can be $20 a month for now if that's all you can swing. It's much better than saving nothing.

From there, set up automatic contributions to an individual retirement account (IRA) or sign up to participate in your workplace's 401(k) if that option is available to you. By setting up automatic transfers, you're more likely to stay on track with funding your nest egg from this point onward.

3. Fight for the wage you deserve

In 2022, female workers earned an average of 82% of what comparably employed men earned, according to a Pew Research Center analysis. If you're feeling financially insecure, part of that could stem from the fact that you aren't being paid enough to do more than cover your basic bills. And that's something you should absolutely speak up about.

First, research wage data in your area so you know what people with your skills and job title are making (sites like Glassdoor are a resource here). Next, schedule a meeting with your supervisor where you can present your data and show that you're statistically underpaid.

Alongside that, prepare some talking points to make the case that you deserve at least the average wage for people in your position. If your keen eye spared your company a number of errors last year that saved it money, highlight the amount of savings your efforts resulted in. If you're a customer service representative with a record of great feedback, point out that your ratings are top notch.

It's absolutely appropriate to talk up your accomplishments when you're fighting to be paid fairly. And the more you earn, the easier it becomes to save for emergencies and your future.

It's a hard thing to walk around feeling bad about the state of your finances. If that's the case, don't let that continue. Instead, take these steps to improve your outlook -- and get more peace of mind.