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Married women forfeit their opportunity to manage finances and they’ll regret it in the future, says a new study.
Fifty-six percent of women leave financial decision-making to their husbands, while 80 percent of women end up in a situation where they eventually need to — either because of divorce or their husbands passing away before them, according to Swiss bank UBS.
Eighty-five percent say they believe their husband knows more about finances and therefore should make all major financial decisions.
Older women say: “bad idea”
Nearly all (98 percent) widows and divorcees say women should be more active in making financial decisions.
It seems that financial wisdom comes with age. Younger women are more likely to leave their husband in charge of their finances, the study says.
Sixty-one percent of millennial women leave financial decisions to their husbands, while only 54 percent of women from older generations do.
Older women are also at an age where retirement planning is increasingly important. One reason women need to be in charge of their financial decisions is the fact that they will likely live longer than men.
