Women feel confident about saving, but many still keep money in low-yield accounts

Most women feel self-assured about their ability to save money, but many may not be getting the most out of those savings.

More than 70% of women say they are confident in their saving habits, according to a new Vanguard survey. Yet despite that confidence, 46% reported keeping their savings in accounts earning less than 3%, potentially limiting their ability to outpace inflation. Another 20% said they have no savings outside of retirement accounts.

The findings highlight what Vanguard describes as a disconnect between women’s financial goals and how they manage their cash savings.

“Savings are a crucial part of everyone’s holistic financial strategy, and yet, the survey found a clear disconnect between women’s overarching financial goals and how and where they save,” said Sonia Fraher, head of cash management at Vanguard. “The good news is that identifying this disconnect creates opportunity to decide if you want to change course by taking stock of where you are saving to ensure you’re earning the interest you deserve.”

The survey found that financial security was women’s top savings priority, but competing financial demands often got in the way. Twenty-seven percent of respondents said their biggest financial regret was spending money on something they didn’t need, while 18% wished they had started saving sooner. Fourteen percent regretted helping family or friends financially when they should have prioritized their own savings.

Unexpected expenses also continued to derail saving goals. Forty-seven percent of women said they used money earmarked for one financial goal to cover another expense at least once over the past year.

Read more: Emergency savings gaps are quietly draining American retirement accounts

The findings come as Americans continue making progress in workplace retirement savings. According to Vanguard's How America Saves 2026 report, average overall plan participation reached 86%, while 61% of plans now use automatic enrolment to help employees begin savings. Professionally managed investments have also become the norm, with 69% of participants using managed allocations and 96% of retirement plans offering target-date funds.

Those trends suggest employers are making it easier for Americans to build long-term retirement savings. Yet Vanguard’s separate survey indicates that many women may not be applying the same approach to their cash savings, leaving money in low-yield accounts even as retirement saving becomes more automated and diversified.

According to Vanguard’s survey of women, many respondents said additional guidance could help close the gap between their savings goals and their current strategies. Thirty-five percent said a recommendation from someone they trust would make them more confident about moving to a high-yield savings option, while 30% cited more financial education and 29% said guidance from a certified financial professional would encourage them to change.

Read more: 401(k) savers keep contributing as fewer tap retirement loans, Bank of America finds

Retirement plan design is helping more Americans develop strong saving habits, but many women remain uncertain about how to manage cash savings beyond the workplace. Financial education and personalized guidance could play an important role in helping close that gap.