Women’s Financial Health Got Worse in November 2022

By Kate Sullivan

Although the Ellevest Women’s Financial Health Index had seen marginal gains over the last three months, it dropped back down to 1.1 in November 2022 — essentially matching the rock bottom it hit back in July.

A line chart showing the Ellevest Women’s Financial Health Index scores dating back to June 2018.
A line chart showing the Ellevest Women’s Financial Health Index scores from the last six months. It was 3.4 in April 2022, 1.0 in July 2022, 1.6 in September 2022, and 1.1 in November 2022.

November’s score reflects how rough the economic environment is for women right now. Women’s employment held steady, but other factors exerted pressure — primarily inflation. While it did rise more slowly than in prior months, it continued to rise in November nonetheless — and as we know, inflation hurts everyone, but hurts women more. Consumer confidence also continued to drop.

While the numbers remain bleak, especially around the holidays, it’s difficult to fix what you don’t measure — and having them in hand gives us another tool to push for change. 

Until then, care for your own financial wellness. Demand more. And invest your money in the companies and industries that align with your values and work to make the world a better place.

About the Ellevest Women’s Financial Health Index

The index was launched in early fall of 2022 as the first and only holistic measure of women’s financial health in the United States. 

It combines 12 indicators — like women’s employment, the pay gap, inflation, women’s representation in Congress and Fortune 500 C-suites, reproductive autonomy, and Ellevest’s unique insights into women’s saving and investing habits — and gauges how much it feels like the financial landscape is working for or against women. 

The result is a score between 1 and 10, with 1 being the worst things have been for women’s financial health in the time period measured (in this case, since May 2018), and 10 being the best. We calculate and share that score every month to keep a finger on the pulse of women’s financial health over time and help push for change.

Check back here for future monthly updates to the Ellevest Women’s Financial Health Index.


© 2022 Ellevest, Inc. All Rights Reserved.

The Ellevest Women’s Financial Health Index is constructed from a number of quantifiable factors that impact women’s financial health; these include the gender pay gap, inflation, student loan debt, paid family leave, reproductive rights, women in leadership, consumer confidence and student loan debt. It also includes proprietary insights from Ellevest’s business, including trends in recurring deposits by women and share of investments going into impact investing.

The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice.

The information provided does not take into account the specific objectives, financial situation, or particular needs of any specific person.

Investing entails risk, including the possible loss of principal, and past performance is not predictive of future results.

Ellevest, Inc. is a SEC registered investment advisor. Membership fees and additional information can be found at

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Kate Sullivan

Dr. Kate Sullivan is Ellevest’s head data scientist. She extracts the “so what?” from data to reveal the stories of our community.