More Women Are Taking Control Of Their Financial And Professional Lives

According to a new survey, the household’s CFO is also in charge of investment and retirement planning.

According to a new survey, an increasing number of women are taking control of their finances, careers, and futures, and employers and financial advisors should be aware of this.

Almost all women in relationships are involved in managing not only their household finances (94%) but also their investments (94%) and, contrary to popular thought, their retirement planning (94 percent).

More than 1,000 women polled stated they are most proud of being able to communicate openly about money (68 percent), dealing with their finances on a daily basis (56 percent), paying off debt (56 percent), and owning a property (53 percent) (53 percent).

Most women, on the other hand, prefer to keep love and money apart when it comes to finances. Only one-third of women with partners have entirely combined their finances with their partner.

Despite taking control of their finances, only 60% of women surveyed believe their workplace is improving in terms of women’s support, and the pay gap is a serious concern for many. One-third of men in their businesses know or suspect that men earn more for the same jobs. One in every six women who believe they are underpaid believes it is due to their gender.

Nearly two-thirds (63%) of women who work for others do not feel fairly compensated, and nearly 40% of those who are unhappy with their salary plan to look for work elsewhere. In the last two years, more than half of those who work have not gotten an increase over the cost of living.

HerMoney CEO Jean Chatzky stated, “Women have actually taken on a financial leadership role at home.” “What this new research reveals is that we’re starting to use the same initiative at work when it comes to money.” After all, it’s difficult to keep your personal and professional lives separate at the end of the day, so expect to see women continue down a road that pulls them closer together.

“One way that might show up this year is that 100 percent of companies should be making progress in their support of women, and those who aren’t risk women seeking out new employers who are.”

Source: https://www.benefitspro.com/2022/04/13/more-women-are-taking-charge-of-their-finances-and-careers/