Changing Financial Management Habits For Men And Women
Financial Management

Changing Financial Management Habits For Men And Women

large business and finance

Recently I was asked if I thought men or women were better in managing money based on my personal experience. I usually don’t like that question as it normally comes down to the personality of the person as oppose to the sex of the individual when it comes to making and saving money. Although, just for the record I have found that the odds are a women is usually better with saving money.

Now why is that the case in my opinion? I think in general it’s because when it comes to turning one’s financial situation around I noticed that women are highly more likely to create a group of some sort where they would share tips and best practices with each other. As well, I notice that a lot of women tend to make a competition out of it such as trying to see who saved the most money buying various items.

On the flip side, generally I think men are a bit more on the risk taker side while wanting to learn how to make more money. Usually when a group of guys are together too it’s more about who was able to generate more revenue/income. At the same time, it’s more of a meet and greet. As expected too, this means less conversation about saving money and hence more odds that the person will blow their entire savings.

Of course, whether it’s men or women some do neither and therefore get into debt or are stuck in a situation they are not satisfied with. For myself, I am more of a hybrid attitude wise as I believe you have to find ways to make more as well as ways to save too. Take what works for both sides and adapt those principles around your situation is the best way to go I’d say.

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