September 19, 2020

8 Reasons Why Women Are Better At Money Management Than Men

There are a lot of things that women can do better than men, and vice versa, but that’s not what we’re here to talk about because they are more responsible and better at controlling their desires. When it comes to money management, the same rule applies!

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Managing money comes naturally to women. Efficiently having control of your money is key to leading a happy life. If you are careless with money than it would lead to many other problems in the long run.

Here are 8  reasons that explain why this may be so.

1. Women mature faster

women better money management

There are a lot of things that women can do better than men, and vice versa, but that’s not what we’re here to talk about because they are more responsible and better at controlling their desires. When it comes to money management, the same rule applies!

2. It’s in their nature

women better money management

Women tend to constantly worry about the future and preserving their resources, and one of the main things they focus on is money. This innate nature of preservation is what makes women excel in caretaking jobs and industries where conservation is valued. This is then naturally translated into their own lives where they feel like they need to save for a rainy day or even retirement.

3. The Matriarch

women better money management

While the father may be seen as the head of the family, it’s the mother that bears the brunt of responsibility in most households. This, of course, includes properly allocating funds so that each member of the family is satisfied and taken care of. So she would tend to think about saving money wherever possible so that the excess money can either be put away for an emergency or used to fulfill another need.

4. Social programming

women better money management

The society also plays a major role in the ingraining of such quality in women. From a young age, women tend to be told that they need to look for long-term stability in their jobs while men are given a free pass to ‘dabble around’ before settling into their careers. So a woman is programmed to think that financial stability is the end-all when it comes to her career, putting logic over passion.

5. Always thinking about future

women better money management

Like most things in their lives, money is something that women think about concerning the future. A woman who’s got a good job with a good salary might be content with where she is now, but she is constantly worrying about whether her good fortune is going to last. It’s always “What about a year from now, 5 years from… etc.” This is what drives them to save and therefore manage their finances better.

6. Wage gap pays a role

women better money management

Whether you agree with me or not, the gender wage gap is a very real issue. A woman who has the same qualifications and experience as her male counterpart is very likely to be offered a lower salary than him. And in most places around the world, employers still tend to prefer a male candidate over a female one. This also means that they feel like they’ve got to be careful about how much they spend, especially in the case that they may out of a job soon.

7. Saving for a bigger splash

women better money management

It may be biological or it may be social, but women tend to prefer delayed gratification. A man is more likely to make impulse purchases and seek instant gratification. In simple terms: man wants, man, buy. A woman will put off getting something she wants, either because she feels like she can get something better by waiting, or because she wants to save that money. This makes them better at sticking to long-term financial goals.

8. Traditional gender roles

women better money management

As we mentioned briefly, traditional gender roles dictate that a woman is responsible for her family, and this includes managing the finances so that everyone and everything is taken care of. A man earns the money and the woman is expected to build a life around whatever money he gives her. Modern family dynamics are changing but this is one thing that seems to be still the same, and one thing women can be glad of is that this makes them better at money management.

Do you agree that women are much better at money management than men?

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