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Are women better at financial planning for divorce?

On Behalf of | Mar 10, 2017 | Divorce |

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In the past 50 years, women’s liberation has taught the world just how great women really are. In almost every category involving work performance and economic success, women are at least keeping up with their male counterparts and often surpassing them.

According to a recent report from Accounting Today (AT), there’s another category in which women excel: divorce. Specifically, the report claims that women are far more successful in planning financially for divorce, which of course makes them more financially successful in the aftermath of divorce compared to men.

American Institute of CPAs Study

The AT report cites a study conducted by the American Institute of CPAs looking at the respective financial behavior of their male clients compared to female clients surrounding divorce.

There are a number of interested figures from the study that show women excelling, including:

  • Seeking financial advice
  • Improving spending habits
  • Increasing retirement savings
  • Seeking out gainful employment

According to the study, women excelled in all of these categories more than men did.

What Can We Learn From This?

Men and women can both learn a lot from this list of financial habits surrounding divorce. It is critical to take smart steps if you are facing a divorce or if your marriage has recently ended.

First, make sure you seek financial advice and protect your money. Second, make sure you do not spend wildly. It is not uncommon for people in the emotional turmoil of divorce to want to make impulse purchases or vacations and the like, but it is better to hold your money and protect your future. Finally – though it might seem obvious it is worth mentioning – make sure you are gainfully employed.

If you are facing a divorce, the most important thing you can do is seek counsel from an experienced, trusted team of family law attorneys.