'Advice for Barbie? Nah, she's already a multi-millionaire'

Or, rather, one Barbie and three Sindy dolls, as mum had the say over what I played with. 

Even in the 1980s, my mother did not like the aesthetic of Barbie, with her over-exaggerated femininity, a parody of what womanhood looks like. 

But I loved her: the pink ruffles on her glow-in-the-dark dress, the plastic pink parasol that glowed green when the lights were out. What a toy! 

I'm probably not going to see the 2023 movie, however. I'll wait until I watch it on a plane next year when my son is finally asleep or engrossed in Trolls (for the 14th time).

Everyone wants to help a rich person; the poor are not always so well-served.

I'm also bemused by all the editorials talking about financial advice for Barbie. "If she marries Ken", said one columnist, "this is what she should do to be tax-efficient". "Here's how she could invest in an Isa", said another. 

Barbie does not need an Isa. She probably already has millions under advisement in the Caymans.

Nor will she marry Ken. That was one of the whole points behind the creation of the doll back in the 20th Century; she was to be a successful businesswoman in her own right, owning her own home, debt-free and without having to rely on anyone else.

According to Statista, the Barbie brand was worth $700mn (£548mn) in 2023 – double that of 2022. But even at $350mn, the girl doesn't have to worry about saving for her pension or putting money into savings. 

Obviously, she should consider a pre-nup in case she agrees on a whim to tie the knot to Ken. 

She should consider inheritance tax even if she does not marry. All those charities connected with her will be expecting a cut of her estate when she finally goes to the Great Skip in the Country. 

But Barbie is set for life: no ties, no dependents, no debt, no financial worries. She has assets bigger than her... assets.

Modern women are not so. 

Resilience vs independence

We might aspire to Barbie-like status, to be independent, to be businesswomen, to be successful in our own right. 

However, while modern women, according to a KPMG report in 2019, are financially independent, we are not financially resilient.

A significant proportion of Gen Z and millennial women are still living at home, trying to save up for a property and priced out of the rental market. 

Wages have in no way kept pace with the rate of inflation over the past two years. 

Cash savings rates have, until the Bank of England started putting the base rate up, been paltry. Who could get excited about a 0.01 per cent annual interest rate on a savings account? 

While there has been much work put in to make sure the gender pay gap closes, and remuneration is fair and equitable, there is still a glaring pension gap, and a protection gap, and an education gap. 

One friend of mine asked me how she could rent a house without having to have a landlord. 

Another friend admitted that her savings were in a jar under the bed as she "didn't trust the banks". 

They have fallen through the financial education net and have been left unreached and unaided.

A third woman told me she could not understand why people said to switch to save costs on her utility bills.

"How does switching save that much money?" she asked. After a few more questions, it transpired she thought people were telling her to switch her lights off. 

These are not stupid women by any means; just ones who have fallen through the financial education net and have been left unreached and unaided by guidance and advice providers. 

So while some people are getting excited about how to help Barbie manage her millions, I'd encourage advisers to keep thinking about the millions of non-Barbies out there. 

Everyone wants to help a rich person; the poor are not always so well-served by big corporations, which is why it always warms the cockles of my heart to hear stories of small advisory firms going the extra mile to help vulnerable people in their local communities. 

Not everyone is a Barbie, but everyone needs advice.

And who knows, helping women onto the housing ladder or into a better savings mentality might just see their own personal brand worth double year-on-year, too.

simoney.kyriakou@ft.com