She’s Qualified—So Why the Gap? Moving beyond Numbers and Investigating the Financial Literacy Gender Gap Paradox through a Cross-Contextual Qualitative Lens

• Applicant: Dr. Awais Malik, Ph.D.
• Subject Area: Educational Research on Socialization, Welfare and Professionalism
• Term: since 2025
• Project identifier: Deutsche Forschungsgemeinschaft (DFG) - Project number 573723809

This project investigates why well-educated and skilled women, despite strong qualifications and professional capabilities, often display lower financial literacy than men. It focuses specifically on women from Pakistan and examines how their financial knowledge and decision-making are shaped in two very different countries: Pakistan and Canada. Financial literacy means understanding and managing personal finances effectively—like saving for retirement, budgeting, and investing wisely. While it's important for everyone, research shows that women across the world, including in both developed and developing countries, consistently score lower on financial literacy than men. This gap is especially surprising among highly educated women, raising important questions about what barriers they face and what can be done to support them better. The project addresses three major issues: Understudied topic: Despite equal qualifications and even after being responsible for financial decisions, women still tend to have lower financial literacy levels than men. Previous explanations like lack of education or household financial responsibility don't fully explain the gap. Context Matters: Most past research focused only on single countries, mainly developed ones, and used mainly quantitative methods. This study instead uses a qualitative approach—conducting in-depth interviews with people—to explore the reasons behind women’s financial literacy levels. It does cross-contextual analysis of women with the same background (educated and skilled Pakistani women) who live in two different countries (Pakistan and Canada) to understand how distinct contexts affect financial understanding. Focus on Real Experiences: The study uses a method called constructivist grounded theory, which helps build theory directly from the real-life experiences of participants. It focuses on how women make sense of finance, what challenges they face, and what supports are helpful in their financial journeys—both in Pakistan and after moving to Canada. By comparing these two groups, the study intends to find out: Which financial literacy challenges are common across both countries, and which are shaped by the local context. How individual factors, cultural values, economic systems, or policies influence women’s financial literacy. What kinds of support—education, tools, or policies—could help women become more financially literate. This research aims to create a new framework for understanding financial literacy through the lens of women’s lived experiences. The findings could help improve educational programs, inform policymakers, and support financial institutions in both developed and developing countries. Although the study doesn’t aim to represent all women, especially those with less education, it lays the groundwork for future research and targeted interventions.

• DFG Programme: WBP Fellowship
• International Connection: Canada, Pakistan
• Hosts: Dr. Henna Qureshi; Professorin Dr. Rania Salem