OREANDA-NEWS. December 01, 2015. Women of Generation Y are playing a more active and influential role in family financial decision making than any generation before it, according to new research.

National Australia Bank (NAB) has released part three of the Special Report into work and family dynamics in Australia with the final segment in the series looking at how families make financial decisions.

NAB’s Head of Behavioural and Industry Economics Dean Pearson said the generation in which you were born was a key factor in the management of the household budget.

“Our research shows that, on balance, women play a bigger role in making household financial decisions than men,” Mr Pearson said.

“Overall, while women are more active in terms of everyday household budgeting, men are more likely to decide on investments and the use of financial advice.

“This however changes somewhat when women start to earn more than men. Not only do they make more of the financial decisions but this includes the areas which men have traditionally dominated.

“Also when  you break it down to generations, it clearly shows that younger women are more influential across most decision categories than older women.

“In some important instances, younger women are the most influential decision makers overall.

“By comparison, women aged over 65 are by far the least financially empowered in regards to influencing household financial decisions,” he said.