By Stevi Gable Carr – August 9, 2021
Could knowing more about money save your marriage?
Women make 82 cents on every dollar that a man makes and own 32 cents for every dollar a white man owns, despite the fact that women will statistically outlive men. Some factors include career breaks, higher student loan debt and more likely to be denied a loan or venture capital than men. But what might be the larger factor that no one is discussing: the confidence that women lack to manage financial decisions. According to MarketWatch, even when women know the correct answer to a financial issue, women are simply not instilled with the confidence to lean in on their decision and often outsource decision making to others, oftentimes their partner, without aligning to key principles, values or shared goals.
With misaligned success criteria comes challenges, miscommunication and disagreements. In fact, money fights are the second leading cause of divorce, behind infidelity and may be the largest predictor of divorce, according to the journal Family Relationships. When partners can have clear, open dialogue on finances, they are more likely to maintain a healthy relationship.
“It is important that not only men see themselves as equals but that women do too” said Danya Karram, co-founder of Brillant Advice, an independent investment and financial planning advisory firm. She and co-founder Cern Basher will co-lead this session, aiming to support couples who want to start their financial journey on common ground.
Interested in learning more? On August 11th at 11:30 WISe Wellness Guild will feature “Bringing It Home: Building a shared vision for your financial futures” powered by Paycor, presented by Brilliant Advice. This virtual program and networking event will feature Brilliant Advice’s Danya Karram + Cern Basher who will lead a couple’s financial workshop aimed at finding common ground, asking the most important question: “Are we going to be ok?”
Paycor, a Human Capital Management company, has been leaning in to support a public series on financial confidence after an overwhelming turnout for the International Women’s Day event in March 2021. The panel discussion positioned practical insight for women and men alike on how to evolve your personal connection to money. “It’s clear that financial wellness is an essential component to Associate happiness and stability. Talking about money is traditionally taboo, so we set out to put together a program where authentic people, with expertise, get real about what everyday people can do better with their money.” said Leah Landis, a Senior Manager in Paycor’s Learning and Development organization. “We wanted to create a meaningful platform to support financial competence, which is a critically important dialogue for our community.”
RSVP for free and learn more about the full series recap by visiting wisewellnessguild.com/challenge-for-change. Registration is free due to the generosity of Paycor and is supported by Network of Executive Women- Cincinnati.