There is an old saying: “Money does not grow on trees.” For women in Croatia, money is more like a plant you have to water for years before it bears fruit — and if you have never learned how, it will wither before it ever blooms.
Financial literacy is not a “men’s” or a “women’s” thing. But the facts show that women in Croatia — and globally — have objectively more reasons to be financially literate than men. And no, it is not because we are smarter (though, well). It is because the system is stacked against us and tilted in their favor.
First, the numbers that hurt
Women in Croatia earn on average 12-15% less than men for the same job. That is not a myth — it is data from the Croatian Bureau of Statistics. Additionally, women live 5-6 years longer than men on average. Which means — we have less money, and we need it for more years. Math we do not enjoy.
Add to that the fact that most women leave the workforce at least once for maternity or parental leave. That is not a luxury, it is biological reality. But in a pension system that relies on years of service, every year out of the workforce means a smaller pension. The average Croatian pension is already 500-600 EUR — for a woman who took 2-3 years off per child, that number drops even further.
Why do women tend to “save” while men “invest”?
Studies show that women generally save more but invest less. It is not that we do not understand — quite the opposite. Women often have a deeper understanding of risk because history has forced us to be more cautious. The problem is that this “caution” in the world of money means: keeping cash in a checking account (eaten by inflation), avoiding stocks (because “it is gambling”), and relying on the state (which, let us be honest, barely covers the basics).
Considering that inflation in Croatia in 2022 and 2023 ate about 20% of cash value, saving under the mattress or in a savings account with 0.01% interest is no longer “safe” — it is a losing strategy.
Three reasons financial literacy matters more for women
1. Life expectancy
We live longer, yet the pension system is designed for someone who will spend about 15 years in retirement, not 25-30. That means women must make up for those extra 10 years themselves — through savings, investing, or additional income sources. There is no state that will save the day.
2. Divorce and independence
Statistics show that after divorce, women on average experience a dramatic drop in living standards, while men often even improve theirs. Why? Because women are often the ones who “ran the home” while men “ran the finances.” When the marriage falls apart, one side is left without a financial compass. Sounds like a bad movie, but it is the daily reality for thousands of women.
A piece of advice that is not cynical but realistic: no matter how much you love your partner, have your own account, your own credit history, and your own investment. Not because you plan a divorce, but because life writes novels we never ordered.
3. The gender pay gap — small percentage, huge difference
12% less pay does not mean 12% less money. It means 12% less for savings, 12% less for investments, 12% less for pension contributions. Over a 40-year career, that percentage turns into a difference of tens of thousands of euros — enough for an apartment in Zagreb… or half an apartment, let us be real.
What women can (and should) do?
Here are three practical steps every woman can take starting today:
- Negotiate your salary. Sounds obvious, but studies show women negotiate their salary in four times fewer cases than men. And those who negotiate — get raises. The worst-case scenario is they say “no,” and you are still on the same salary. Best case — a raise.
- Start investing. You do not need to be Warren Buffett. Fifty euros a month into an ETF tracking global markets is enough. In 30 years, at an average return of 7%, that is around 60,000 euros. No active trading, no waking up at night, no technical analysis. Just boring, conservative, women’s style of investing.
- Educate yourself. Financial literacy is learned, not born with. Read, ask, research. You do not need to know everything, but you need to know who to ask and where to check. And never, ever trust someone who guarantees a “safe 20% monthly return.” That is not investing, that is a scam.
Why this matters for Croatia
In Croatia, where the average pension is below 600 EUR and apartment prices are going wild, financial literacy for women is not a luxury — it is a necessity. Not because we are weaker, but because the system puts us in a worse starting position. If we are not aware of it, the system will run us over.
The good news? Financial literacy can be learned. You do not need a degree in economics, you do not need a broker, you do not need a husband who “understands this better.” All you need is one good book, one course, one conversation with the right person. And a bit of courage to say: “I am worth more and I deserve better.”
And this, of course, applies to men too. But they have already received the instructions — they just did not read them. 😉
This article is for educational purposes and does not constitute financial advice. Before making investment decisions, consult a licensed financial advisor.