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Women Drive Household Finances3/22/2022

The purchasing power of women has been rising for decades and all signs say it will continue. The amount of assets controlled by women in the U.S. is expected to climb from $10 trillion (about 33%) to $30 trillion by 2029. According to Morgan Stanley, women control 83% of all consumer purchases in the U.S., ranging from cars to health care to electronics. In 2020, women were the primary income earner in 41.2% of households with children. And because women are statistically more likely to outlive their male spouses, the money they earn will have to last them longer.

With that in mind, many financial experts are recommending to women that as their economic power grows, they take a lead role in managing their family’s finances.

At Extra Credit Union, we offer the tools and resources to help you do that. With retirement planning, debt consolidation tools, and financial education services, Extra Credit Union can help you take ownership of your family's financial future. And because we're a not-for-profit financial institution, we return our earnings to you in the form of better rates and fewer fees—making us just one of the many smart choices you've made for your family.

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