A February 13 article by Marlene Y. Satter in BenefitsPro.com reports that while they may want more information about financial planning — and they do — women just aren’t talking about it. Why? It’s “too personal,” according to the results of a new study from Fidelity Investments that Satter cites in her article.
The “Fidelity Investments Money FIT Women Study” states that while 92 percent of women want to learn more about financial planning, and to get more involved with their finances within the next year (83 percent), that doesn't mean they're willing to discuss the matter.
Eighty percent of women in the study said they have kept from talking about their financial condition at one time or another with someone they’re close to. If you ask them why, 56 percent will say it’s too personal to talk about.
In her article, Satter shares further statistics: They're willing to discuss parenting (46 percent), work (44 percent), health issues (43 percent) and politics (40 percent), but money? Nope. Just 25 percent will discuss spending, while 17 percent will talk about investments and a paltry 11 percent are willing to touch on that scandalous topic of (shudder) salary.
Think it’s just a communication problem among friends? Wrong there, too. Women don’t talk about money with their partners much, either. They’re ready and able to have conversations about health issues (78 percent) and problems at work (71 percent), but finance is farther down the list, with just 66 percent discussing salary and 65 percent investments.
To top it off, one out of every four married women said she’d be more motivated to involve herself in her finances if she knew she had her spouse’s support.