• Shutterstock

    Femme Finance

    Divvying Up the Cash? Don't Hide a Thing

    Financial transparency is crucial to divorce in the digital era.

    A client I’ll call Blair was the stay-at-home wife of a highly successful corporate executive—call him Doug—who spent a great deal of time traveling on business. Doug’s frequent, prolonged absences may have been one reason their marriage was unraveling, but Blair found another when she noticed a charge on the couple’s AmEx bill for $2,799, paid at what she knew to be a very fashionable women’s clothing store in New York.

    Blair hadn’t been to New York in years, but Doug had been there precisely when the purchase was made. So Blair phoned AmEx customer service, identified herself as the joint holder of the account and the wife of the purchaser, and asked the agent to “remind” her what the transaction in New York was all about. It was for a single item, she was told: a Chanel clutch bag. Certainly a classic in the world of fashion accessories, but not exactly Doug’s sort of thing, and he clearly hadn’t bought it for his wife.

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  • Nadia D Photography

    Wedding Bells

    Always the Bridesmaid, Ever in Debt

    It’s getting increasingly expensive to stand by your friend on her big day—even more so when you’re on every bride’s MVP list. How it adds up, and why it’s worth it.

    It’s the moment she’s been waiting for: her boyfriend has finally taken to one knee and popped the question—and she said yes. And now she has a proposal for you: will you be my bridesmaid?

    Weddings reign supreme in the category of major life celebrations; you prep, you photograph, and years later you bicker about who got left off the invite list. But they sure don’t come cheap—and young people are starting to ask themselves if the cost of a dress, accessories, gifts, and travel is worth it.

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  • Tetra Images/Getty

    FEMME FINANCE

    Survey: Young Women Don’t ‘Get’ Money

    Shockingly, those polled were mostly older men. Coincidence?

    Maybe they think we’re squirreling our savings away in pink plastic piggy banks. In a survey of 350 certified financial planners (300 of whom were men), more than half of the participants said women are less financially savvy. The group (which skewed old) also found that the young are less financially literate than those over 40. Previous reports have supported the claim that women and minorities are less informed than their white male counterparts, but as Newsweek and Daily Beast alum Nick Summers points out, this makes sense: “Groups that have historically had lower incomes (see: above) have had less money to invest, and therefore less incentive to learn about investing. Put another way, most people don’t learn a lot about cars until it’s time to buy one.” So maybe these investors should get off our backs until we’ve broken enough glass ceilings to actually have money in the bank.

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