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Millennial women are feminists, except when it comes to moneyhttps://beta.indianexpress.com/article/womensday/millennial-women-are-feminists-except-when-it-comes-to-money/

Millennial women are feminists, except when it comes to money

Despite investing hours in self-care, many of the self-proclaimed feminists admitted that they had taken a back seat in their own financial affairs.

Marielle Schurig spoke to a group of women at a wellness event at Lululemon Athletica Inc.’s store in New York’s Flatiron district, after they’d sweat it out together in a yoga and circuit-training class. Following her remarks, attendees lined up for an hour to talk to her about their finances.

The women told Schurig, 31, an account vice president at UBS Financial Services Inc., that they let their spouses or partners decide on money matters. Despite investing hours in self-care, many of the self-proclaimed feminists admitted that they had taken a back seat in their own financial affairs.

That’s not uncommon: 59 percent of women age 20 to 34 defer investing and financial planning to spouses, according to a survey by UBS Group AG that was released Wednesday. The Swiss bank found that younger women are more likely than earlier generations to give such leeway to their partners.

“I was really surprised to see that,” Schurig said in an interview at UBS’s office in New York. “You see women fighting for equal rights and equal opportunities, for respect in the workplace and at home. There’s all these women running for political office. We continue talking about breaking glass ceilings. But once we make the money and get those positions, what are we doing with it?”