Women get financially smarter as they get older

A study by Joanne Hsu, a Federal Reserve Board economist, shows that as women age they become more financially proficient.  Hsu theorized that as women get older, they have more incentive to become more proficient with finances.  The key is that women often outlive their husbands and must take care of their own finances after many years of allowing husbands to be the financial manager in the home.

Couples tend to “specialize” certain tasks within the marriage with the husband often being the one to handle finances. While there is nothing wrong with this scenario during marriage, it does become a problem during widowhood.

For more of the story read, “Women Get Better with Money As They Age.”