Women make up 80 per cent of household spending decisions, but that doesn't mean they're in control of their own finances.
So says personal finance guru Gail Vaz-Oxlade. She's an award-winning broadcaster and author who has been teaching Canadians to take control of their financial lives for more than 30 years. Her latest book, It's Your Money, takes direct aim at her latest target: women.
"A lot of women still cede control to their spouses," she said in an interview on the Lang & O'Leary Exchange recently.
Women are told to share everything with their partners, but that's not always a good thing because that robs them of their power to control their financial lives, she says.
"Women have to recognize they have a responsibility to themselves and to their children to be able to stand on their own two feet," she said.
Women don't always play an active role in investment decisions because society still expects them to handle more domestic issues like child-rearing. "Women tend to head more single-parent households," Vaz-Oxlade says, "and taking care of aging parents? It's a girl's job," she added, sarcastically.
She says women are too afraid of getting involved in investment decisions for their households because they're too often afraid of making a mistake.
"Just because you've got a partner, doesn't mean you become the shadow of your partner," she said.
Watch the player above to see her complete interview, or click here to see it in its own.
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