Women in Conversation: Financial equality in a relationship

Nov 17, 2023, 04:44 AM

“Money conversations are hard. They are harder than talking about sex or the in-laws. How much money one earns versus how much a partner earns is linked somehow to our perceived value. The person who makes more money has more power unless there is a conscious approach in the relationship. The person who has more money has potential to dominate the conversation and control the flow of the money. Money can also be used to shame - blaming a partner for not earning enough or keeping the family in a standard of living. Money is a powerful tool in a relationship, and we need to be very aware of it”.

In this conversation, that every woman should be having, Maya and Andrea Carr share their money stories with financial planner Sunel Veldtman founder of Foundation Family Wealth.

How does your upbringing affect your relationship with money and the financial conversations you have with your partner? How do you agree on a household budget – setting shared goals and making sure both partners’ wants and needs are met? 

They discuss mistakes women make when it comes to the financial responsibilities they take on. Why women may find that they are taking on credit card debt to keep up with the family expenses or skimp on their retirement and future needs to provide for the children.

It is important to note that while the idea for this series came from Andrea’s personal experience of getting divorced, this is not just about women or divorce. These conversations are relevant to anyone in a relationship especially when there are children involved and the additional workload of caregiving. We want to understand how to navigate this space so that it feels fair – from a financial, physical and emotional perspective.

This series is in partnership with Ninety One