Women Taking The Lead With Financial Management

Tables seem to be turning as women are being given the baton now to be the main financial officer in their household as revealed by a study conducted by Allianz Life Insurance Company of North America. However, most thought it was easier than at looked and regretted not speaking to a financial professional before taking such role in their homes. A total of 51 per cent of women are in charge of the finances in their homes, with increases in the number of women are have become the primary breadwinner of their family (currently at 37 per cent, unlike 31 per cent during 4 years ago).

“Women are taking a larger role in managing household finances and are gaining more responsibility for the financial success of their family. The savviness that women exhibit with their household finances can translate to being more assertive and having the confidence to take risks in their careers,” said Katie Libbie, the Vice President of Allianz Life Consumer Insights.

Despite a high percentage of the respondents are financially comfortable and protected, they would still want to have more insight and understanding on investments and financial planning. A third of the women have a financial professional for advice and assistance, while 75 per cent wish they had gotten a professional to guide them prior to becoming a chief financial officer in their households.