Although women are increasingly household breadwinners and financial stewards, talking about money often remains taboo in “polite society.” In a West Michigan Woman piece, “Wine, Women and Money: Sharing Financial Know-How,” Anastasia Wiese, JD, CFP® explores how women can broach the subject in small, private gatherings—with a little wine to help the conversation flow. “When women share information about career and finances, goals, hopes, dreams—and yes, fears—we can find the crucial support needed for success,” says Anastasia.
“It’s not surprising that even today, women are less confident—not less knowledgeable—when it comes to handling money,” says Anastasia. “In the U.S., women and money were legally separated for centuries.” For example, as recently as the 1960s–1970s, women were often unable to own a bank account or credit card in their own name without having their husband or another male guardian as a joint owner or co-signer
How can women bolster their confidence in their own financial well-being? Anastasia suggests getting together with trusted peers, to discuss sensitive subjects such as wealth and career management. Inspired by CNBC.com financial journalist Alicia Adamczyk’s “Money Salon” model, Anastasia hosted her own gathering prior to the pandemic. “It wasn’t an easy discussion,” she notes. “But the insight and encouragement we gained from each other … ended up leading to raises and promotions for all.”
For more ideas on how to empower women of wealth, you can read Anastasia’s full piece here.