Partnership means that responsibility is shared too

Dr. Birgit Happel is a financial sociologist who advocates for the economic independence of women, for equality, and for financial social work. Together with the Institute for Financial Services (iff), she is currently running a research project on this topic.

Dr. Birgit Happel is a financial sociologist and owner of the platforms Geldbiografien® and Finanzbiografien. She earned her doctorate on the subject of "money and life story" and advocates for the economic independence of women, for equality, and for financial social work. As a former securities advisor at a major bank, she combines capital market experience with a commitment to financial education, wealth building and the prevention of poverty among women. We talk to her about financial abuse, an issue that predominantly affects women.

Birgit, you are researching financial abuse at iff Hamburg. Could you briefly walk us through what this is about?

Yes, gladly. In the research project, we are looking at financial abuse against women. This topic is still far too invisible and has barely been studied empirically so far. It covers things like women in partnerships having only limited access to money, not being able to freely dispose of their own income, or having their financial dependence exploited by others.

Together with Dr. Cornelia Chadi from the Institute for Financial Services (iff), I am investigating how such dynamics arise and how prevention and support can work better. Among other things, we conduct qualitative interviews and focus groups with affected women as well as with professionals from counseling and social work. We are also looking at what role financial education and financial services can play as protective factors. That also brings us to the question of gender-sensitive financial advice.

Do women actually need special financial advice?

Statistically speaking, women are more often affected by the pay gap, the pension gap and part-time traps. They continue to take on the majority of unpaid work and accept part-time work or career breaks as a result. In doing so, they often bear the long-term consequences for income, wealth building and retirement provision on their own. That means they face a significantly higher risk of poverty in old age. That is why it is important to address budget planning, wealth building and retirement provision early and strategically.

What should financial advice for women look like?

Financial advice that does not take these structural conditions into account remains incomplete and risks reproducing existing inequalities. Basically, what is needed is not special financial advice for women, but gender-sensitive advice geared to different life stages. It is about factoring in real employment histories, care responsibilities and power dynamics within partnerships. Questions of financial control, ownership and protection should not only be raised once a crisis has already happened.

On the other hand, we do not need advice that works with fear and pushes women toward overpriced or unsuitable products. Anyone who unsettles people is not strengthening their sense of agency, but is instead focused on selling products. I think good financial advice should be trust based and sensitive to structural conditions, especially when it comes to the economic situation of women. If the underlying conditions are ignored, there is a risk of turning structural problems into individual ones.

Does what you just said about financial advice also apply to financial education programs?

Yes, the same applies here. They are not automatically empowering, and quality as well as value for money vary a great deal. Here too, women should look closely: how is the business model set up, what professional qualifications and legitimacy exist, is it really about building competence, or is there hidden sales activity behind it?

You mentioned the pension gap earlier. Do you have tips on how couples can best close it together?

To be able to close it, we first need to make it visible. Many couples talk far too rarely about retirement provision, assets, or the financial consequences of part-time work and care work. It is really important that both partners know where they stand, what gaps will emerge in the long run, and why.

Partnership means that responsibility is shared too. Here, the main question, of course, is how paid work and care work can be divided fairly. Couples with children in particular should jointly clarify who pays how much into retirement provision, how pension entitlements can be secured, and which financial risks need to be covered. In the event of a crisis, neither partner should be caught off guard or even face existential worries.

For that, money conversations should take place early on and be conducted as equals. Then retirement provision can become a shared project that creates security for both sides.

What matters financially for women in the event of a divorce?

Here it is important that women have a clear overview of their financial claims and risks. That starts much earlier, namely with knowing which contracts and insurance policies exist and where the corresponding documents are kept. Unfortunately, too many women still do not know exactly how pension entitlements, maintenance payments or shared assets are divided.

What should women do in advance, while the relationship is still intact?

Clarity on all these topics should be established in good time. Ideally, of course, well before any conflicts arise. The division of roles in a partnership has a direct impact on finances. If women have worked part time for a long time or have taken on care responsibilities for an extended period, they need to pay particular attention to making up for and balancing out their pension and provision gaps.

One's own money biography also plays a role. If I know my personal financial history, I can consciously develop strategies to handle money in a self-determined and secure way, and can counteract it if I notice that my finances are getting out of control. Budget, accounts, property and liabilities should always be transparent within a partnership. Women are indeed often quite security oriented when it comes to investing. But risks also lie hidden in private life decisions. Above all, delegating one's finances to someone else is an underestimated risk. Women should retain control over their financial situation at all times, so that they remain able to act, even if their life circumstances change.

This topic is becoming even more important right now, because the federal government is currently working on a national financial education strategy. Here too, it is important that structural questions such as the division of roles and power dynamics are not left out.

Thank you very much, Birgit, for these insights into the topic of financial abuse!

Dr. Birgit Happel's book "Auf Kosten der Mütter" ("At the Expense of Mothers") examines the opportunity costs of motherhood and encourages women toward financial self-determination. For her pioneering work, she was admitted to the "Bayerns Frauen" network and is an expert with the federal government's Financial Education Initiative. She has served on the board of the Präventionsnetzwerk Finanzkompetenz (PNFK) e.V. since 2018.

Anyone who wants to learn more about the new research and transfer project "Finanzielle Gewalt sichtbar machen" ("Making Financial Abuse Visible"), which Birgit mentioned, can find more information here https://www.iff-hamburg.de/2026/02/12/finanzielle-gewalt/

Foto: Alexandria Singler

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