This research demonstrates that significant barriers exist for women when talking to their partners about money. A critical financial resource for many women is the asset base they share with their partner. For some women, it is their only financial resource. It is imperative, therefore, that strategies are developed that reduce barriers and increase women’s capacity to engage with their partners about finances, improving long-term economic outcomes for women and children.
Financial literacy products are not sufficient to address women’s lack of engagement with their finances. These products assume that women have equitable, financial decision-making capacity in relation to money they share with their partners, but do not recognise complex and entrenched gendered barriers such as:
- Gender stereotypes
- Pay gap impacting on power dynamics
- Women disengaging from financial conversations to demonstrate their love and trust
- Gendered differences in communication styles
- Fear of relationship breakdown