Women’s Financial Health in 2023

By Ellevest Team

We’re halfway through the year, and things are tough out there for women.

As a result, women's financial health remains under pressure — though not as bad as hitting rock bottom last year, when Roe v. Wade was knocked down and inflation was rampant.

There are also some positives that have contributed to a slow but steady climb of the 2023 index, like last year’s progress with respect to representation in Congress, the fact that women now make up 10.4% of CEOs of Fortune 500 companies, and the easing pressure from inflation rates.

The result is that, from last summer’s bleak 1.0, the index climbed to 2.39 in February, and hit 3.5 in May.

The main factors holding the index back from greater improvements: the continuing effects of inflation, recent Supreme Court rulings, downturns in consumer confidence, and ongoing assaults on women’s reproductive rights.

A line chart showing the Ellevest Women’s Financial Health Index scores dating back to January 2020.
A line chart showing the Ellevest Women’s Financial Health Index scores from the last six months. It was 1.5 in December 2022, 1.96 in January 2023, 2.23 in February 2023, 3.7 in March 2023, 3.4 in April 2023, and 3.5 in May 2023.

If financial wellness feels like a big, slightly complicated concept, never fear. The resounding good news is that investing in your financial future is easy. So our advice to women investors is to find a place — we hope it's Ellevest — that you trust, and just get in the water.

Another total game changer when it comes to your financial wellness: working 1:1 with a financial planner. Research shows that people with a financial plan have 3x the net worth of those who don’t. Our all-women financial planners ‌actively listen, create space for you, and bring a wealth of knowledge to every conversation. Book a free 15-minute call to determine which session is the right fit for you.

About the Ellevest Women’s Financial Health Index

We launched the Ellevest Women’s Financial Health Index 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 updates to the Ellevest Women’s Financial Health Index.


© 2023 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.

All opinions and views expressed by Ellevest are current as of the date of this writing, are for informational purposes only, and do not constitute or imply an endorsement of any third party’s products or services.

Information was obtained from third-party sources, which we believe to be reliable but are not guaranteed for accuracy or completeness.

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 an SEC-registered investment adviser. Membership fees and additional information can be found at

Ellevest Team

Ellevest helps women build and manage their wealth through goal-based investing, financial planning, and wealth management. Our mission is to get more money in the hands of women.