In the wake of the recession, women are on the verge of outnumbering men in the workforce for the first time in history, according to the Bureau of Labor Statistics. The second annual survey by Women & Co., a financial community where wisdom, wealth and women meet, backed by Citigroup, uncovers how the economic downturn has impacted what women are thinking, saying, and doing when it comes to money in today’s SHE-conomy. Results of the latest survey, Women and Affluence 2010: The Era of Financial Responsibility, reveal that women are using their growing financial knowledge and rising influence to foster an open dialogue about money and usher in a new age of financial responsibility.

Top findings from Women and Affluence 2010: The Era of Financial Responsibility include:

We are ushering in a new era of financial responsibility in response to the economic downturn.

• Half of all affluent women feel a sense of responsibility to pass along lessons learned in the economic downturn.
• 52% already passed along guidance to others. The primary recipients of this advice were children, spouse/family, friends and colleagues.
• 86% of mothers are teaching their children lessons from the financial crisis.
• How to be a savvy saver and smart spender topped the list of advice dispensed.
• 64% of respondents stated that they’re sharing their financial values with others.

Our financial values hold steadfast in light of the economy.

• The one word affluent women most closely associate with wealth is security (54%), consistent with women’s views prior to the economic downturn (55% in 2008).
• Their focus is still on building financial security, independence and quality of life for themselves and their families.
• While over half (53%) of respondents believe the definition of wealth has changed for society overall, only 30% say their own definition has changed.
• Three-quarters of women believe that society defines wealth differently than they do. In general, they believe that society’s definition is more about having material things.
• However, 7 in 10 women agree that now society believes that saving for the future and for emergencies is important.

Affluent women’s financial knowledge and confidence continues to climb.

• 82% say they are knowledgeable about investing and finances, a significant increase from the 75% who said the same in 2008.
• The majority of women now feel confident that they started saving for retirement at the right time in life. In 2008, less than half felt that way.

Earning power propels affluent women to the financial head of household.

• Today, 66% of women consider themselves the CFOs of their household.
• 73% of full-time working women said they hold this position, compared to 68% in 2008.

Our rising influence is breaking down long-standing taboo of talking about money.

• In 2008, money was the #1 topic between mothers and daughters; today, nearly all, 91%, of respondents said they are talking to family members about money.
• In the wake of the recession, two-thirds of women agree that money has become a topic much more open for discussion.
• Investing, saving, spending and anxieties/concerns are the top financial topics discussed.

To address women’s distinct financial realities, Women & Co. provides a vibrant financial destination where wisdom, wealth and women meet. By engaging in a dialogue with women, Women & Co. delves into their financial needs to understand how they approach money – managing, saving, investing, and giving. Women & Co. is committed to sharing these insights to deliver the education, comprehensive resources, and community of financially minded women to help women achieve their financial goals.