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Speaking to your spouse about finances – Part I

MONEY MATTERS with Andrea Duchesne

According to a study done by the Boston Consulting Group women control as much as 70% of household purchases.¹ Yet, when it comes to dealing with their financial institution, women feel dissatisfied citing they often experience condescension and are not encouraged to ask questions of their advisor. It has been my experience that this division can also surface in couples. If one person has traditionally assumed the role of “the lead” in overseeing the couples’ investments, the other is often not involved until a crisis such as death or divorce occurs. Unfortunately, this leaves many dealing with issues that they are not familiar with and as a result they become vulnerable. Not a position you want to be in when it comes to your savings.

Next week, I will discuss how to speak to your spouse about finances…

¹http://www.bcg.com/expertise_impact/publications/publicationdetails.aspx?id=tcm:12-39511

2-part series on “Speaking to your spouse about finances”

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MONEY MATTERS with Andrea Duchesne