Even though Generation X women understand the importance of saving for the future, most are still battling debt, according to one survey.

More than two-thirds of female respondents said they live paycheck to paycheck, while 40 percent carry a credit card balance of $5,000 or more. One in five owe more than $10,000 in credit card debt.

“It’s very difficult for Gen Xers to start to think seriously about saving and investing when excessive debt is a pressing issue for them,” said Lauren Coulston, an assistant vice president at OppenheimerFunds Inc.

While saving for retirement ranked higher than finding a spouse, buying a home or having nice clothes, 62 percent of Gen X females have not bought any investment products.

Part of their reluctance could stem from their lack of information. Six out of ten don’t feel knowledgeable about investing, and 65 percent said they don’t understand how a mutual fund works.

“There is a tremendous opportunity for financial advisers to work with this demographic to develop a financial plan to promote good spending and saving habits,” Coulston said.

The survey was conducted in March by OppenheimerFunds, which polled 215 female and 85 male investors between the ages of 26 and 39.