In a recent survey conducted with 120 individuals in relationships, 52% said they handle the finances in their relationship, with 81% of respondents being female. These facts beg the conclusion that more woman are in charge of household finances.
History leads us to assume that male role would take care of the money in the household. Years ago, it was extremely common to have one primary breadwinner who took charge of all money management in the relationship.
But more studies are showing that women are taking charge and becoming the CFO’s of their home.
This likely correlates with the fact that more women are becoming the sole earners of the family. In fact, women are now the primary breadwinners in 40 percent of households according to Allianz’s “Women, Money, and Power” study. As women start becoming more financially independent, they are starting to become more confident taking the financial role.
With more families having dual incomes, it can be tough to manage the money as a couple. Maybe it is your first time living together or sharing finances. Both can be intimidating bridges to cross, especially as you are forming your financial habits together. When two financially independent individuals come together, it can be tough to have one person take the financial reins.
Check out our couple’s guide to merging finances here!