Young women have more control over their finances than some older women, but it's never too late to learn.

A financial literacy survey has found only half as many women as men were able to answer finance questions correctly, and the gap widens with age.

Finance expert and author Mary Holm told Mike Hosking that understanding money gives a woman independence.

“Being on top of money means a woman doesn't have to be beholden to a man to run the important part of their lives.”

Holm says it's good to see younger women taking responsibility for their financial future.

She says the results for 18 to 30-year-old women were equal to men, then the gap got bigger and bigger.

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