Financial equality: 'Think of your household like a small business,' advisor says

United States News News

Gender equality continues to be an issue in the United States, with women only earning $0.77 for every dollar a man makes, for example. UBS Financial Advisor Tracy Byrnes joins Yahoo Finance Live to discuss the importance of financial equality in closing the gender gap. 'If we don’t have financial equality, we’ll never be equal,' Byrnes says. It doesn’t mean 'you need to earn the same amount as your partner, it just means you need to all be on the same page, and that’s where the gap is,' Byrnes explains. Byrnes says that you should 'think of your household like a small business.' For example, Byrnes explains if you were to delegate something to a worker, you would check in once a week and see what they’ve learned, so why not do that now? 'I think households need to do this more and more. You do not need to earn the same as your counterpart in your household, but you need to understand what you have, where the money is, and how to access it,' Byrnes says.