This archive report was first published on 22 July 2019.
On July 22, 2019, research from money management firm Netwealth revealed that 31% of women aged 16 to 34 would not share their finances with a significant other, with nearly half saying it would compromise their financial independence.
Netwealth chief executive Charlotte Ransom attributed this shift to a new generation of financially more autonomous females, saying, "The traditional approach to managing finances jointly is being overturned by a new generation of financially more autonomous females."
Other top reasons for keeping money separate included women wanting to spend their money as they like, having a financial safety net in case of divorce, and not thinking their partner has any claim on their assets.
Interestingly, the better off the woman, the less likely she is to keep her monthly income and savings separate from her partner, according to Netwealth's findings.
"With women increasingly entering marriage later in life, after years of earning their own income and controlling their own finances, it's unsurprising that many are turning their back on a 'what's mine is yours' approach," Ransom said.
