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Do women need to keep some money aside from their husband

Women may be making a critical financial error when it comes to money management that is causing them to become poorer. They most likely are unaware that they are doing it. You’ve heard it before: Women live longer, make less money, and spend more time away from the workforce. However, despite these widespread financial issues, women do not actively participate in major financial decisions, which would significantly improve their financial situation. According to a recent report by UBS Global Wealth Management, 58% of women leave those important decisions in the hands of their male spouses. Women who were younger, between the ages of 20 and 34, had a 56 percent higher likelihood of deferring to their significant others. Women over the age of 51 were not far behind, with 54% stating that they defer to their spouses when making financial decisions. It could be alluring for one spouse to step aside and let the other handle everything. That does not necessarily imply that you must manage your finances jointly. But make sure to plan a monthly check-in so that you and your partner can evaluate where you are, said Kingsbury. Financially vulnerable women may be affected by this terrible habit, especially if they divorce or lose their spouse. On the other side, the outlook was better when couples collaborated on long-term financial objectives, according to UBS’ research. Women expressed greater future optimism, making fewer mistakes, and experiencing less financial stress.

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