Women vs. men: Two different perspectives on money
July 23, 2009
A study by Financial Finesse shows stark differences in the ways men and women feel about money. The firm analyzed more than 3,000 responses to an online financial planning questionnaire, revealing trends regarding spending, saving and investing.
Key Question: Does the apparent confidence men feel in their finances align with their behavior? Or perhaps are women more willing to admit their financial shortcomings?
Note: Sometimes with studies like this, it’s interesting look at the data conversely. 60% of women would say they don’t have a general knowledge of stocks bonds and mutual funds. 76% of women are unsure about how their investments are allocated. Same thing for 60% of men. That sounds like opportunity knocking for financial marketers.
Financial Finesse works with companies who offer financial counseling services to their employees. The firm has over 300 corporate clients who have a combined 500,000+ employees.
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Filed Under: Facts & Data
Tags: credit cards, investments
July 28th, 2009 at 12:41 pm
Interesting, when we hear that women–younger ones, anyway–are some of the best targets for financial institution marketing messages. I thought it was because they are making the decisions. Is it, instead, because they have so much to learn?
September 7th, 2009 at 11:07 pm
[...] to a questionnaire which were gathered to show how men and women view their personal finances. This particular survey reveals how men seem to be much more comfortable and confident about money than women are. Image [...]
September 9th, 2009 at 3:48 pm
Whether the men score better than the women is a moot point.
The dismal fact is that all of the percentages are low.
The handling of money should be taught early and effectively.
There are too many “financial predators” lurking in our society.
September 15th, 2009 at 12:01 pm
[...] the other hand, a study done by Financial Finesse and used by The Financial Brand, revealed that men are perhaps more financially prudent. For instance, the survey with 3,000 [...]
January 13th, 2010 at 4:07 am
[...] http://thefinancialbrand.com/2009/07/23/research-on-men-women-and-money/ January 13th, 2010 | Tags: personal finance, Savings | Category: Savings, personal finance [...]
July 13th, 2010 at 12:27 pm
Here’s another comparison chart to give you a little more statistical data. I think it provides a good supplement. I was especially shocked by the differences between men and women’s salaries.
http://www.gobankingrates.com/savings-account/men-vs-women-infographic/