Debunking All Misconceptions about Women and Money
With only a few financial planners who are women, it has become hard for us to believe that, women can actually handle all the money related issues very well. The very idea that, women are weak in managing financial problems is one of the most common myths, which has grown stronger over the time.
But, several researches have unveiled the fact that women have changed their behavior towards money completely.
Thus, there is a need for the people to clear all their misconceptions about the money management policy of women.
Women Don’t Know the Art of Managing Money:
There is a popular believe, especially among the men that women don’t know the proper art of managing money. In reality, this can actually be a huge problem for the both sexes.
On the other hand, if men find any difficulty in making a budget or managing their money, they don’t hesitate in taking help from an experienced financial adviser.
Women are more prone to Avoid Risks:
A statistic has cleared out the difference in the thinking of men and women, when it comes to handle the issues related to money. However, a lot of people are more prone in judging the characteristics of women without having a proper idea about it.
The scenario has changed a lot than the past as the modern women have already learnt to take risks for gaining a great advantage in the future. Experts have also revealed the fact that, this risk taking factors are more visible among the women, who earn sufficient money for maintaining a standard living. Thus, the money management policy of women should never come under any obligation.
Women can become a Shopaholic:
One of the most common allegations against the women is that, they are impulse shoppers. According to the popular believe, women find it difficult to stop themselves from buying unnecessary grooming instruments to fill their closets. Although, this is a fact that some women hold a habit of overspending, but it doesn’t make all the women a poor manager of the crucial financial conditions.
Generally the last minute purchase of different goods is known as impulsive buying. These types of shopping are generally conducted by the women, so this is also the other reason for the women to have a tag of impulsive buyers.
But, the reality is a bit different than this believed fact, as men are also prone of taking debts. In fact, the men folk are the one who often repay their debts after a long interval of time.
Entrepreneurship is only for the Men:
Another biggest misconception, which our society holds about the money management techniques of the women, is that they have no proper idea about handling monitory issues by themselves. Entrepreneurship is strictly restricted for the men; this concept has become quite a thing of the past.
Now is the time, when men and women are working together to achieve success. There is no reason for the women to think that the world of finance is only run by their male counterparts.
According to the American Express Report, at least 1288 women are taking the risk of starting their own business everyday in the United States.
Women are not interested in Investing:
It is a known fact that women are less interested in taking an active part in investments compared to the opposite sex of the society. They prefer more in conducting the whole work of investment through someone else. But, this doesn’t make them a spoil sport in dealing some serious matter like an investment.
But, the women who belong to the group of high-income personalities of the society do not fall in the above mentioned section. On the other hand, all these influential women like to take an active part in managing all their financial issues along with some effective investments. A lot of women are taking interest in investment nowadays; in fact, they are also keeping the day to day news of the changing scenario of the stock market.
Women have become quite smart to deal with different financial matters. They prefer taking the risks of learning everything about money management. The age old believe that women folk have no practical knowledge about understanding the financial requirements of their household has actually been busted. In fact, a research has also disclosed the participation of at least 85% of the women in managing their household need, which has changed the whole scenario.
Peter Christopher is the Editor to Finance Care Guide and a guest columnist for many blogs that deals with financial issues. He has devoted himself to full time speaking, writing and consulting on personal finance management. Visit him on Google Plus and Twitter.