Women Stepping Into Their Financial Power

Women are at a distinct disadvantage in their divorces when it comes to the money. It is more likely that the husband was managing the family's finances, and the wife had little information about where the money was and what it was being spent on. You can't get a fair settlement in your divorce if you don't know what has happened with the money.

That's why divorce is the perfect time to get to know your money better and really step into your financial power.

Dr. Barbara Provost and Maggie Nielsen created Purse Strings to empower women in their financial lives, and they are my guests on this week's episode of my Find Me The Money podcast.

We're talking about important money conversations for women, how to take back your financial power, and resources available for women from Purse Strings. It's such an interesting conversation about the reasons why many women don't step into their financial power, including the lack of financial education and negative messages surrounding money.

Who Helps Women

Women often rely on friends and family for financial advice instead of seeking professional help. Many women don't feel "worthy" to meet with a financial service provider. Purse Strings aims to change this by being a trusted resource for financial tools and vetted financial professionals who serve women.

The Message Women Receive

Dr. Barb shares about the lack of financial literacy as many of us grew up, as well as the poor money messages young girls often receive. Money is considered taboo to talk about in many families and can be a source of negativity and conflict. From marketers, family, and friends... girls and women can be taught that their voice doesn't matter or that they aren't capable of making their own financial choices. 

It is important to remember that the reality is women influence nearly 95% of financial decisions made in a household. Women are very powerful when it comes to money and we all need to step into that power to take charge of our futures. 

Where to Start

If you are in a long-term relationship and want to know more about the money, start with curiosity with your partner instead of accusation. Begin to gather the details of your day-to-day financial life as well as your family's long-term plans and goals. If your partner doesn't want to include you in the finances, this is a red flag.

The future of women and finances is shifting, and Purse Strings is working to build a supportive network for women to discuss and manage their money. Women deserve the best possible financial start with financial professionals who will treat them with respect and like an equal player at the table. Purse Strings can help you find your best match today.