More and more women are taking over the household finances

40% of the population is women. One survey shows that women at the top of the earnings ladder are not only making strides in the workplace, but they’re also taking charge of their households’ finances at higher rates. This is true for millennial women more than any other demo.

The national (American) survey of 640 adults found that among high-net- worth individuals—defined as those with at least $3 million in investable assets—30% of Gen Y women are breadwinners in their households, and another 21% contribute the same amount of income to the household as their partners. Compare that to the 11% of Gen X women and 15% of Baby Boomer women who earned more than their husbands.

The likely result is that young women will have a greater influence over their family’s money decisions than ever before. Among today’s high-earning female millennials, 31% are the primary decision-makers when it comes to their household’s wealth and investment planning. That’s considerably more than the 11% of Gen Xers and 9% of Boomer women who can say the same.

Of course, these role changes don’t just affect women. As moms continue to earn more, about one in four millennial fathers are more likely to be the primary caretakers of their children—a striking difference from the 7% of Gen X and 3% of Boomer dads who’ve undertaken the same responsibility. Good on you dads!

I say this is a definite step forward for all women and for their families too. What is your opinion on this? Let us know at on Facebook. You can also read more such articles on our blog.