(Image credit: Getty Images)“What is your net worth?” (not to be confused with “your self-worth”) is a real question that many women can’t easily answer. This simple question and resulting hesitancy may reveal that this could be a roadblock that stands in the way of women managing their own financial lives.By the way, most men feel comfortable with their financial literacy skills and can confidently spout out their net worth. Many women are not even sure how to calculate their net worth (more on that later), and what’s worse is they are clearly not secure with their finances in general. This insecurity was highlighted in the 2024 Intuit Financial Literacy Survey.Step away from the old baggageIn your parents’ day, many were taught that it was “impolite” to discuss money. Money was a forbidden topic. This big secret persists today, with the Intuit survey finding that the stigma surrounding money talks is alive and well, with 27% of women surveyed confessing that it’s easier to talk about their sex lives than their money. This whispering and fighting have resulted in money issues being one of the major reasons for divorce. In fact, a study for National Debt Relief found that 54% of respondents believed having a partner who is in debt is a major reason to consider divorce.Subscribe to Kiplinger’s Personal FinanceBe a smarter, better informed investor.
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Sign up for Kiplinger’s Free E-NewslettersProfit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail.Profit and prosper with the best of expert advice – straight to your e-mail.Years ago, when I was an on-air financial expert for Oprah Winfrey, her producers had a hard time finding women who were willing to discuss their money lives on TV. We would interview prospective guests who said that it was way too personal to discuss financial issues with their prospective partners. It was mind-boggling for me. Here, they had intimate relationships, but discussing their partner’s income, assets and debts was too personal?Neale is a financial voice for women and a pioneer for the topic of “kids and money.” Neale is a No. 1 New York Times bestselling author. Neale started her journey with The Chase Manhattan Bank, joining as one of the first female executives, and later became president of The First Women’s Bank and founder of The First Children’s Bank. In 1989, Neale formed the Children’s Financial Network Inc. with the mission of educating children and their parents about money. Neale has also appeared as an expert on The Oprah Winfrey Show and Good Morning America.Women have gotten in their own wayThis lack of financial savvy has kept women back. For instance, according to the Intuit survey, 47% of men say they have enough savings to cover three months of expenses, but only 38% of women say they have enough savings to cover an emergency. This lack of money smarts also takes a big toll on your phy
