Managing Your Money on IWD 2025

Women’s Wealth is Growing Worldwide

We hosted a recent IWD event where speaker, Tsitsi Mutiti opened with the astonishing stat, ‘60% of the UK’s wealth will be in the hands of women by the end of 2025.’ Source: Centre for Economics and Business Research

Women are set to control more wealth than ever before. Yet, many still feel disconnected from financial conversations and decision-making. Why? Because we’re busy, life takes over, and traditional systems haven’t always encouraged open discussions about money. But times are changing and it’s time for women to take control of their financial futures.

At Mortgage Brain, we develop technology that helps mortgage brokers guide their clients through possibly the most important financial decision of their lives. We take pride in our ability to help brokers simplify the mortgage journey, find out more information in our article ‘Simplifying the Mortgage Journey’. But we also believe in providing knowledge and support beyond mortgages, helping people gain confidence in managing their finances.

This International Women’s Day, we’re continuing that mission by sharing key money management insights inspired by the discussions at our recent IWD events, with professional coach and founder of Wired Differently, Sara-Louise Ackrill, and investment manager and founder of The Wealth Conversation, Tsitsi Mutiti.

Financial Planning Challenges That Women Face

Women face unique financial challenges due to longer life expectancy, career breaks, and caregiving responsibilities.

Living Longer

Women outlive men by an average of four years meaning they need to plan for longer retirements. With the cost of residential care ranging from approx. £3,500 to £5,000 per month and nursing home care from approx. £4,000 to £6,000 per month, failing to prepare could result in financial insecurity later in life.

The Motherhood Penalty & Sandwich Generation

• 24% of women leave the workforce after their first child, with 17% still absent a decade later.
• These career breaks for women mean lower pension contributions, reduced financial independence, and greater reliance on a partner’s income.
• Many women also find themselves financially responsible for both ageing parents and children – known as the Sandwich Generation – which can impact savings and long-term planning.

Blended Families & Divorce

• In 2022, 32% of new marriages involved at least one partner remarrying.
• The average UK marriage lasts less than 12 years, which means financial plans should account for the possibility of major life changes.

In terms of securing a mortgage, a woman who has left the workforce or taken time out to have children, and then finds herself in a situation where she is single or divorced, will find her chances of securing a mortgage are negatively impacted. She may not have been able to build up enough savings for a deposit. She might not have assets (such as a pension) that can be monetised as security. Or if her financial wellbeing has mostly been in the hands of her partner, she may not have a useful credit record. All of these factors will affect her ability to secure a mortgage.

Given this scenario, how can women take control of their financial future?

How to Build a Stronger Financial Foundation

1. Get Financial Advice

• Talk openly with partners, family, and friends about financial goals and responsibilities.
• Ask for recommendations of mortgage brokers, financial advisers, solicitors, and accountants. You may not need them now, but if you reach a crisis point or you have a money wobble, it’s always better to have recommendations ready.
• If you have elderly parents, speak to them about what financial arrangements they have in place for future care and what their expectations of you are. Do this whilst they’re of sound mind.

2. Make a Financial Plan

Financial planning isn’t just for the wealthy – it’s for everyone. Break your plan into:

• Short-term: Day-to-day budgeting and emergency savings.
• Medium-term: Paying off debts, investing, and saving for major goals (e.g., buying a home).
• Long-term: Pension contributions and retirement planning.

3. Be Smart, Be Ready, Review

• Pay Yourself First: Aim to save at least 12 months’ worth of essential expenses in an emergency fund.
• Expect the Unexpected: Consider insurance options like life insurance, income protection, and critical illness cover.
• Review Your Finances Regularly: Set a monthly, quarterly, or annual ‘money check-in’ to review bank statements, credit cards, loans, and mortgages.

4. Choose the Right Financial Products

• Take advantage of tax-free ISAs and pension contributions.
• Compare savings accounts to ensure you’re getting the best rates.
• Make informed decisions when taking out a mortgage – our platforms help brokers guide their clients to the right products.

At Mortgage Brain, we equip brokers with the right tools to help their clients secure the right mortgage and make the most of their assets.

Find out how our mortgage software can help to get mortgage applications right-first-time in our article ‘How mortgage broker tools help brokers work smarter, not harder’. 

Getting Unstuck: How to Move Forward & Take Control of Your Finances

Money worries can feel overwhelming, and feeling stuck financially can spill over into other areas of life. So, how do you break the cycle and accelerate action?

1. Assess Your Current Situation

• Try a brain dump or mind map – list areas where you feel financially stuck and categorise them into practical or emotional challenges.
• Review your spending habits – what aligns with your goals, and what needs to change?

2. Seek Support

• Speak to a mentor, coach, financial adviser, or a trusted friend. · If debt is a concern, consider organisations like StepChange for free advice.
• Understand whether financial challenges stem from deeper issues like co-dependency, people-pleasing, or trauma, and seek professional support if needed.

3. Work on Your Money Talk

• Learn how to communicate financial concerns with partners or family using frameworks like Parent-Adult-Child (P-A-C) communication models to reduce conflict. Understanding how you communicate financial concerns can be really useful.
• If you’ve been financially controlled in the past, take steps to regain autonomy and seek support.

4. Take Small, Practical Steps

• Create a financial action plan with three small, achievable steps you can take today.
• Track progress and celebrate financial wins – big or small.
• As Tsitsi says, ‘It’s not about what you earn, it’s about what you keep.’

How Mortgage Brain Supports Financial Action

At Mortgage Brain, we produce innovative tech tools for brokers to support their clients when facing financial decisions. Whether it’s finding the best mortgage, planning for the future, or tackling a financial challenge such as adverse credit or payment defaults. 

Our sourcing tools give brokers the confidence to broach these sensitive money matters with clients early on in their mortgage journey, giving borrowers much-needed clarity about their mortgage outcome. 

Find out more information on how you can use our mortgage software solutions to turn even the most complex mortgages into approvals in our article, ‘Mortgage brokers must stay agile to navigate complex lending and meet evolving client needs’.