Welcome to Tea with DidiApr 21, 2019
There are three reasons for this:
a. Control: Men feel empowered if they make all money related decisions.
b. Knowledge gap: Men don’t think women know much about money related matters.
c. Role models: Traditionally they may have seen that their fathers made monetary decisions and their mothers did not partake. So the thought of asking their spouse, or that they even have an opinion may not occur to them.
To address this situation, here are a few suggestions.
a. Draw them out and ask why they don’t take your input as well.
b. Use a money management website (Mint, Fidelity, Schwab, Merrill Lynch – all have solutions) and upload all your investment information so that you can see your assets in one location. Your investment assets can be spread out, but upload the information in one location so that you can get an overview of your portfolio. If your husband is not taking the trouble to do this, offer to help him.
c. Look through the investments and understand their positions, rate of growth, and investment choices that your husband is making.
d. If you are uncomfortable, do the research online to propose changes. Daily Worth is a great resource for women to get comfortable with managing your money.
e. Calmly voice your opinion with a strong logical reasoning (do your homework beforehand).
Owning your money is the biggest step towards empowerment. It is a lot of work, but your children’s future maybe at stake and this is part of your responsibility.
Author: Viji Dilip