Women are being asked to take up money issues with their partners as part of International Womens Day, as compared to the historical average, more women than men have control over the purse strings in the household. With 36 percent of women controlling the finances verses only 31 percent of men.
With the survey finding that 47 percent of Australians arguing over household finances, Westpac’s head of women’s markets Larke Riemeris urging women to discuss their finances with their partner.
“Women are savvier than ever about money – they are more aware of how much they can use it to achieve their goals.
“We want to see women using their financial know-how to avoid arguments,” Ms Riemer said.
“International Women’s Day is the perfect day for women to have a conversation, not an argument, with their partner about their short and long term financial priorities.”
In comparing attitudes of men and women, men were found to be more trusting of women overall with 19 percent of women not totally trusting their partner with shared finances, compared with 10 per cent of men. In addition when it came to the perception that their partner wasted money, 47 percent of women believed their partner wasted money compared with just 40 percent of men.
The research was based on a survey of 1,000 men and women across Australia and was conducted by Pure Profile in February.