Utah women and finances: UWLP white paper explores awareness, understanding and attitudes

The leadership team of the Utah Women & Leadership Project at Utah State University includes (from left to right) Megan Roper, Karen Deardeuff, Kimberly Williamson, Director Susan Madsen, Robbyn Scribner and Heather Sundahl. (Courtesy Utah State University Extension) 

Nearly all Utah women believe that it is important for them to be competent and confident with money. More than 95 percent think that way, according to the findings reported in the fourth of five white papers published on the state of Utah women by the Utah Women & Leadership Project (UWLP) at Utah State University.

Based on a survey conducted last fall, the survey, titled “Women, Finance & Education 2025: Utahns’ Awareness, Understanding and Attitudes,” supports “A Bolder Way Forward,” a statewide UWLP initiative focused on ensuring that more Utah girls, women and their families thrive.

Although the vast majority of Utah women agree on the importance of understanding the way finances work, 15.9 percent of them disagreed on some level or were neutral when asked about their ability to manage personal finances independently and make informed
decisions.

“For those who want to understand the perceptions and attitudes regarding the challenges Utah women and girls face, this 36-page report contains critical data that can help and we invite the public to review it,” said lead researcher and author Susan Madsen, UWLP founder and director and the USU Extension professor of leadership. “This is our third year of data collection, and the report addresses data changes compared to the 2023 and 2024 surveys.”

April Townsend, a research fellow at the Utah Women & Leadership Project, is a co-author of the report.

The 83-item survey, administered from Oct. 1 to Nov. 19, included both representative and convenience samples totaling 5,212 Utah participants. The white paper reported on survey items that examined Utahns’ awareness and perceptions in three key areas: finance, higher education attainment and K-12 education initiatives.

Five survey items provide additional insights regarding girls, women and financial literacy, intending to reduce financial vulnerability among Utah women. The survey included statements to which respondents indicated their level of agreement:

1. I am aware of resources that help me achieve financial security.

2. I have used resources to help me achieve financial security.

3. I believe it is valuable for me to understand my personal finances.

4. I can manage my personal finances independently and make informed decisions to improve my financial wellness.

5. It is important for women to be competent and confident with money.

“Financial literacy needs to be taught and thoroughly understood in high school,” said one respondent. “Understanding financial literacy could be a determining factor to push young adults to aspire to get upper-level degrees.”

Madsen said that because higher education is positively linked with long-term economic, social, and physical well-being, earning a post-secondary credential is an important step for every Utah woman. Four survey items provide additional insight to improve enrollment in and completion of programs, certificates and degrees among women:

1. In addition to improving economic opportunity, higher education is also important for intellectual growth, personal development and life-long societal contributions.

2. College is worth the financial investment.

3. It is important for more Utah women to complete graduate degree programs.

4. It is important for all those considering attending college to apply for federal financial aid (FAFSA).

Nearly three of four respondents (74.4 percent) agreed that college is worth the financial investment. Respondents with graduate degrees agreed most strongly, followed by individuals with bachelor’s and associate degrees. A similar sentiment emerged regarding the importance of women completing graduate degrees, with 73.8 percent of respondents agreeing.

The qualitative findings, however, highlighted obstacles for women who would like to complete higher education. One respondent shared that there is limited access to educational resources for girls, especially in rural areas.

“There is an ongoing need for financial aid, grants and scholarships specifically for women, including those returning to school while raising children,” another respondent said.

Early education and experiences in school lay a foundation for children’s growth, development and confidence, white paper authors said. These all have an immense impact on how a children view their own potential or imagine the possibilities available to them. One survey section explored support for initiatives in the K-12 environment that have the potential to positively impact Utah’s girls, women and their families.:

Respondents overwhelmingly agreed (91.1 percent) that advanced coursework in high school is as important for girls as it is for boys. All counties had some level of agreement that girls’ advanced coursework is important, but Cache, Davis, Carbon, Salt Lake and Iron counties had significantly higher levels of agreement, while Daggett, Rich, Morgan, Beaver and Piute counties had lower levels of agreement.

Madsen reiterated that Utah must do better to ensure everyone thrives.

“As Utah decision-makers and residents join to find ways to strengthen the impact of girls and women, it is essential that we acknowledge the importance of lifelong learning,” Madsen said. “This is especially true as it relates to a woman’s long-term well-being in every aspect of her life, including her career prospects, confidence as a contributor and leader in her community and as a thriving retiree. Investing in the education of women and girls through K-12 initiatives, financial literacy and higher education attainment not only lifts them but lifts all Utahns.”