March is Women’s History Month, and according to a recent survey, 49% of women consider themselves to be the chief financial officer of their households, up from 41% in 2021.
Those numbers are even more impressive when you consider that until 1974, a married woman often needed her husband’s permission to open a bank account, apply for a credit card, or sign up for a mortgage. Times have changed!
The financial landscape continues to transform, with women projected to oversee $34 trillion in U.S. investable assets by 2030, representing about 38% of the total. This dramatic change reflects broader shifts in society, careers, and family structures.
Key Trends in Women’s Financial Leadership:
Growing Financial Confidence
While 75% of women feel confident about day-to-day money management, there’s still room for growth in long-term financial decision-making. Women often take a more measured approach to financial choices, which can influence outcomes. Studies by major financial institutions have shown that women’s investment accounts have outperformed men’s.
A Different Approach to Financial Decisions
Research shows that women typically:
- Take a more patient approach to investment decisions
- Maintain strategies during market volatility
- Show stronger interest in sustainable and socially responsible options
- Demonstrate greater openness to professional guidance
Communication is Key
Nearly one in four couples say money is their greatest relationship challenge, with 45% reporting occasional financial disagreements. Open dialogs about financial goals, risk tolerance, and long-term objectives can help strengthen relationships and financial outcomes.
Looking Forward
As women’s roles continue to evolve, so do the opportunities and challenges they face. Whether through career advancement, inheritance, or other means, women increasingly take the lead in family financial decisions. This shift calls for fresh perspectives on how families approach their financial futures together.
As we celebrate Women’s History Month, it’s inspiring to see how financial roles within families continue to evolve. No matter who takes the lead in managing finances, thoughtful preparation and collaboration are key to building a long-term strategy. We’re here to support you and your family in navigating every stage of your financial journey—helping you become more confident when making decisions that create a lasting legacy for future generations.
Allianz Life Insurance Company, February 6, 2024
Financial Advisor Magazine, December 9, 2024
U.S. News & World Report, August 19, 2024
Wells Fargo Investment Institute, October 15, 2024
Fidelity Investments, February 1, 2024