Friday, 19 March 2010

Are you a financial adulterer?

Should every woman have their own secret pot of running away money or are financial secrets in a relationship always unhealthy?

That was the topic I was talking about on Woman’s Hour today.

My take on is that if you’re willing to share a bed with someone, why not share a bank account?

If you’re reluctant to merge your money with your other half then ask yourself why? What’s at the root of it? It might be lack of trust, fear of losing it all or being raised with a scarcity mindset that still lives on in your squirrelling and hoarding tendencies.

I’m all for female financial independence (especially given that more women will be left alone in old age with inadequate pension provision) BUT, as I said to the lovely Jenni Murray on the show this morning:

It’s bonkers to believe the answer lies in a wad of tenners at the bottom of your knicker drawer!

Instead, financial independence means being open and honest about money, providing for your financial future and wising up about the best way to invest and maximize your income.

We have a whole chapter on this in Sheconomics, called Sharing Financial Intimacy.

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