Financial Decisions Require Two Voices: A New Era of Money & Marriage
Copper Leaf Associate Wealth Advisor Jackie Thibeault has published a new article on LinkedIn, shining a light on a marked shift in marital financial decision-making.
Financial decision-making is a crucial, daily aspect of our lives. Good decision-making promotes stability for today and can pave the way to future success. Historically however, many women have been sidelined for financial discussions—whether in households, businesses, or investments. As our world shifts toward economic equality, women being active participants in financial decisions is not just beneficial—it’s essential.
Breaking Traditional Barriers
For decades, societal norms have often placed financial responsibility primarily on men, with women focusing on domestic and caregiving roles. While this dynamic has evolved, some lingering attitudes still serve as a barrier preventing women from taking the lead in personal financial planning. Addressing these barriers requires education, open conversations, and a shift in mindset to ensure women feel empowered to confidently manage finances.
Why Should Women Be Involved in Financial Planning?
Active participation in financial decisions brings numerous benefits, including:
- Greater Financial Security – Women who engage in financial planning are better prepared for emergencies, investments, and long-term stability.
- Independence and Empowerment – Financial literacy fosters autonomy, ensuring women can make informed decisions without reliance on others. Women should fully understand and be comfortable with decisions that have been made, and feel empowered to make change if not.
- Stronger Family Wealth Management – When both partners contribute to financial decisions, households benefit from diverse perspectives and balanced money management.
- Long-Term Stability – Women typically live longer than men, making it crucial for them to be actively involved in retirement planning and estate management. A *study by Bank of America found that 94% of women believe they will be personally responsible for their finances at some point in their lives. However, only 48% feel confident about their financial situation, and just 28% feel empowered to take action.
The Role of Financial Literacy
Understanding money matters is key to taking control of financial decisions. Women should feel empowered to build their knowledge on all areas of personal finance, including:
- Budgeting and Savings Strategies
- Investment Allocations
- Retirement Planning
- Debt Management and Credit Health
A base knowledge of these subjects is essential , and there is a wealth of financial education resources available that can equip women with the knowledge they need to confidently navigate financial decisions. Books, articles, podcasts, workshops, online courses, and financial advisors are all great sources to seek out.
Encouraging a Shift in Mindset
Families, workplaces, and society at large must foster an environment where women’s financial voices are heard. Promoting conversations about money is a great start. Open discussions within relationships can ensure both partners contribute to financial planning.
Conclusion
Women being active partners in financial decisions is a societal necessity. When women take charge of their financial future, they build security for themselves, their families, and generations to come. By fostering financial education, breaking outdated norms, and promoting active participation, the world moves closer to true economic equality.
At Copper Leaf Financial we work closely with couples and learn about your family and your vision for how they fit into your financial plan. This family-focused component of our process is key to accomplishing your life and legacy goals. Click here to learn more.
Recipients should not act on the information presented without seeking prior professional advice. Check with your advisor about your specific situation or contact Copper Leaf Financial at 802.878.2731.
Click here to read the article published on LinkedIn.
By Jackie Thibeault, Associate Wealth Advisor, Copper Leaf Financial
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