Keep control of your money throughout your relationship.Sep 17, 2021
98% of widows and divorcees would tell other women to take a more active role with their money. You probably won’t be surprised that we agree with this, too.
Wholeheartedly agree with this. Here are a few other stats that fill out the picture of what’s happening when it comes to women taking control of their money in a relationship:
78% of couples say they are happier when they talk about money. In contrast, in couples who don’t manage money together, 20% say they plan to leave their partner due to financial problems.
Other uncomfortable stats worth noting. 74% of women die single and 90% of women manage their money on their own at some point in their lives, whether they want to or not. Women married to men tend to outlive them by six to eight years, on average. And it’s been found that for those who outsource the management of our money, when that money comes back to them, they have a negative surprise 74% of the time. Thus, the 98% of widows and divorcees telling other women to take a more active role in their money.
There’s not as much research, yet, about how LGBTQIA+ couples split money, though what there is indicates that it can be hard for everyone to break out of these traditional roles, based on their earnings levels. And this isn’t just a baby boomer or Gen X problem: 54% of high-earning millennial women outsource the management of their money to their partner. This compares to 34% of
baby boomer women.
That means that close to 40% of millennial women may be setting themselves up for a negative money surprise later in life. If there is one piece of advice for relationships and money, it would be: Keep control of, or stay involved with, the money throughout your relationship.