Female Breadwinners – do you talk money?
Do you talk about money or is that far too uncouth?
The conversation about money is one that many couples avoid particularly when the woman is the primary breadwinner.
In a recent Huffington post article, Suzanna de Baca said “As women, we often get emotional satisfaction and positive reinforcement from others for making sure that the needs of those we love and care about are met, but this can sometimes come at the expense of our own wellbeing. Remember that in order to take care of others long-term — physically and financially — we must take care of ourselves” In other words we are much more likely to sacrifice our short and long term needs for the financial security of our loved ones. That’s fine if you have made this decision consciously, but often it is stumbled into blind folded, rather than strode into with eyes wide open.
As well as martyrdom, the other thing you may do, in a bid to be sensitive and emotionally in tune is ignore the subject of finances completely. Secretly seething inside female breadwinners can allow the spending of their hard earned money on what they would consider non essentials. The opposite can also be the case when money can turn women into power fueled ego maniacs, solely responsible for financial decisions.
Perhaps you don’t see money as important, however Jill Shaw Ruddock founder of The Second Half Centre brings this sharply into focus. Speaking at the WOW Festival at the Southbank Centre, she said that all women have to know about money because a high percentage of them end up single in later life due to death, divorce or separation and have not financially secured their future. Listen to the full Money, Money, Money session which included Heather McGregor, FT’s Ms MoneyPenny and Merryn Somerset Webb, Editor-in-Chief of MoneyWeek. It is compelling listening.
Have you had the conversation? If you haven’t, what’s the worst that could happen?
Where do you sit: Martyrdom, Ego mania, silence or somewhere else? Wherever it is, how might a conversation help?
What do you need to think about and do to secure your future?
My book Rocking Your Role – the ‘how to’ guide to success for Female Breadwinners, will be out in June 2012
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