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Study Reveals More and More Women Are Taking Control of Their Finances
Alternet: According to a new report released this week from the Women’s Media Center and Prudential Financial titled, “Financial Experience and Behaviors Among Women, women are taking more control of their finances, with 84 percent of women either solely or jointly responsible for household financial decisions.However, it also shows that many women are not properly saving for their future and retirement. Reasons cited include: lack of knowledge, lack of time, and too many basic living expenses or short-term expenses
"A new report shows that nearly all women in the U/S. are involved in household financial decisions, yet many women lack confidence in their fiscal management abilities.
Although the Prudential report painted an optimistic picture of women’s financial positions, some key areas for growth were clear. The most striking finding for me was that women lack confidence in financial decision making. I thought it was just me. Only 18 percent of women surveyed feel “very prepared” to make “wise financial decisions.” Not surprisingly, the survey also found that more than half the women would be willing to have decisions about their finances made by others. For six out of 10 women those “others” are friends and family and only 19 percent of women feel comfortable trusting a financial adviser.