A recent Fidelity study on women and finances shows that roughly 1 in 4 women are not taking part in household financial decision making.
The researchers note that this is a big concern because many women will become the sole financial decision maker at some point in their lives. This will be due to divorce or the death of a spouse.
“Many women don’t realize the same attributes that have made them dedicated savers can also make them great investors, and making improvements to a financial plan is easier than they think,” said Kristen Robinson, senior vice president, Fidelity Investments, in a statement. “It’s critically important that women get more engaged in their finances now.”
On the bright side, when the survey participants were asked what they would do with an additional 60 minutes to dedicate to their financial futures, 42% said they would work on a budget and find ways to save, 24% would learn how to be a better investor, and 13% would develop a financial plan and investment strategy.
For more or this topic, see the article Couples Hesitant to Share Finances. Also stay tuned for a Q and A with Fidelity’s Kristen Robinson for insight into why 1 in 4 women don’t take the lead on finances.