Shop Girls: Women, The New Financial Head Of Household

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By Mia Bolaris-Forget

Marriage is most definitely a 50/50 proposition and traditionally, the man has been held as head of household, and in some areas that position still holds true for some today. However, when it comes to money it seems, according to statistics that the ladies are in charge.

In fact, recent reports indicate that women are an instrumental part of making the daily financial decisions for the family/household, with more than half taking on the role of primary financial decision maker and nearly 40 percent as joint decision makers.

This impact was even greater with ladies who were moms, with a whopping 96 percent of maintaining responsibility for household financial management.

And, of that statistic over half were in charge of finances on their own, and over 30 percent made financial decisions along with a partner.

Furthermore, the study suggests that many of the women actually enjoyed this additional responsibility, though there were the few who admittedly did not.

And, many noted that they embrace their role as key consumers who help drive the economy and as decision making members who can have a significant say in their (own) financial future and lifestyle.

Studies also showed that even with their inclination toward spending, most women believe that finding a good price is more important than paying for a recognized label or name brand, especially when shopping for themselves.

Also, women seem to be more inclined to spend funds on household maintenance costs, transportation, including gad, and food; and less on entertainment, vacations and clothes.

Long Island Money & Careers Articles > Shop Girls: Women, The New Financial Head Of Household