This is this week’s ForbesWomen newsletter, which every Thursday brings news about the world’s top female entrepreneurs, leaders and investors straight to your inbox. Click here to get on the newsletter list!
Remember that Pew study a few months ago that found the share of women who are sole or primary breadwinners in their households has tripled over the last 50 years? That fact remains true, but a new report from UBS puts it in a new light—and finds that outdated gender norms are affecting the way these women are thinking about and interacting with money.
According to a survey of 800 high-earning women and men in heterosexual couples, just half of the women who are primary earners in their relationship are deeply involved in their household’s short- and long-term financial decisions. For instance: 51% of women who are primary earners say they handle bill paying, while 79% of their primary-earning male counterparts say they’re the ones who handle the bills. Women are less comfortable with their status as higher earners, too: 48% of women say they prefer being the breadwinner, while 87% of men say the same.
Now, it’s one thing if folks are outsourcing money management tasks to a partner because they’re short on time (and if you remember from that Pew study, women are definitely short on time because they’re doing a higher share of housework). But it’s another matter entirely if gender stereotypes have infused us with shame around building and managing wealth. As I was reminded in a recent conversation with Ellevest CEO and cofounder Sallie Krawcheck: money is power. When you cede control of your financial decisions to a partner, you are ceding control over your financial future. Let’s not let social stigma take that power away.
Cheers!
Maggie
Featured Forbes Analysis: Behind The Businesses Of Beyonce And Taylor Swift
Beyoncé and Taylor Swift–two of the most famous, iconic and successful musicians of their generation–have already shattered nearly every barrier and hurdle placed before them. Now these superstars are shaking up cities around the world this summer with their respective tours. Forbes has a detailed look at the numbers and money behind their behemoth brands.
ICYMI: News Of The Week
When 7-1 shot Arcangelo won Saturday’s Belmont Stakes, the thoroughbred made history for humans: With the horse’s win, trainer Jena Antonucci became the first female trainer to win the Belmont in the race’s 155-year history.
The Southern Baptist Convention, the largest Protestant Christian denomination in the U.S. and widely considered a bellwether for evangelism in the nation, preliminarily voted Wednesday to more explicitly bar women from serving as pastors within its churches.
Co-CEO of $17 billion (assets) Ariel Investments Mellody Hobson spoke at the Forbes Iconoclast Summit Monday about what she’s doing to support Black-owned businesses. “We are our own headhunters,” Hobson said. “We know where all the people are in corporate America who maybe have a big job but aren’t going to get the top job, and we can tap into that talent potential to transform businesses in America.”
Doris Hsu, CEO of Taiwan silicon wafer supplier GlobalWafers and a member of Forbes Asia’s Power Businesswoman List in 2022, was named the EY World Entrepreneur of the Year for 2023 at a recent award ceremony held in Monaco. Hsu was also a member of the 50 Over 50: Asia class of 2023 earlier this year.
The Checklist
1. Prioritize pleasure. And we don’t mean pleasure reading (though that does have its place). Dr. Emily Morse, the renowned sex therapist on a mission to open up societal conversations around sex, wants to remind ForbesWomen readers that pleasure can be productive.
2. Say “no” to more office housework. You know all the administrative tasks, menial jobs and undervalued assignments needed to keep your workplace running smoothly? Women are bearing the brunt of this burden—but there are ways to avoid adding it to your workload.
3. Stop sneaky anxiety. If you feel anxious when things are going well, or you’re feeling like you can’t turn your brain off when you log out of your work email for the night, follow these strategies for celebrating wins, unplugging from work mode, and broadly turning down the noise on some of this anxiety.
Liked what you read? Click here to get on the newsletter list!
Read the full article here
