Most women are confident savers, survey finds — but where they stash their cash could be a problem

When it comes to non-retirement savings, most women — 71% — express some confidence in being able to set aside cash, a new Vanguard survey shows.

However, many of them also may want to evaluate where they’re keeping that money, experts say.

About half — 51% — of women hold their non-retirement funds either in traditional checking or savings accounts, or in physical cash, according to Vanguard’s nationally representative survey of 1,007 adult women conducted in April.

Almost half of those cash savers — 46% — have most of that money in accounts that earn less than 3%, which currently trails the rate of inflation. Another 26% don’t know what interest rate they are earning.

“A lot of times people just don’t have money in the right place because of inertia,” said certified financial planner Carolyn McClanahan, founder of Life Planning Partners in Jacksonville, Florida, and a member of the CNBC Financial Advisor Council.