New research reveals that nearly half of married women still defer big financial decisions to their partner. Here’s why that needs to change.
. More and more people choose to stay single. So it’s critical that everyone, especially women, understands money matters throughout their lives—both now and as they get older—so that they can be prepared for their financial futures.as a way to bring about gender equality financially, but what's not talked about enough is how gender dynamics play out in the home—and how equality has to start there.
Even though gender dynamics are changing, there's still a widespread perception that men just"get" money more than women. But that's not necessarily true—women have as much insight to offer in financial discussions. When one partner takes the full brunt of the responsibility, it hurts both partners, because it only includes half the couple's perspective and can inadvertently trap women into giving up their voice.
Couples are more likely to invest in estate planning to divide assets in case of loss, because they know that it's an important part of planning ahead. But they're less likely to think about what would happen in the day-to-day if one of them is gone—especially if that person was the only one managing family finances.
It really all comes down to the concept of participation, according to Carey Shuffman, Head of the Women’s Segment at UBS."You don’t need to be an expert to be meaningfully involved in your financial life. Women can identify the steps they’ll take to take their seat at the money table, which will help them actively design the life and legacy they want.
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