Women think they don’t’ make good money managers. This is notion that needs to be corrected as soon as possible.
Our experience so far says that Women have the right skills and attitude to be better managers of resources, given their natural talent and their upbringing to manage with limited resources.
Women generally don’t take the lead in decision making. In many cases, they decide along with partner or father. This is because of societal constraints.
Though, supposedly, decision-making is a man’s domain, it is the woman who shapes the finances better.
Here are a few reasons why women excel at managing money if and when they are given a fair chance to do so.
Women are smarter at saving
Societies in which women are discriminated against; you will find women are more careful and better at planning for a more secure life. This is because women in countries that make them feel second-best are driven to be more resourceful with the few opportunities they are given.
Women are better able to understand the whole picture
Women tend to pay attention to details. When planning for money, they plan for even the small goals of the family. It’s not about how much funds are needed for the goal, but the maximum satisfaction it can give to family. They are even very good at understanding family needs, requirements for certain goals/aspirations. So their opinion matters while planning family money.
Women have the right attitude
When it comes to investing, patience is often key. In this regard, women have a definite edge. When generally major goals like child education or retirement are long term in nature, they don’t react to market volatility /downturn, which help Investments better.
Women are collaborative
Women generally take important steps after consulting with their partner or other people they consider important. This is integral to their nature. It is also a good and holistic way to approach investment planning. Our research has shown that families in which men and women have a say in money management make better investments. In other words, more often than not, the role women play is undoubtedly beneficial.
FINALLY, WOMEN ARE MORE OPEN TO TAKING STEPS TO GET EDUCATED ABOUT INVESTING, AND THE FACT THAT THEY’RE NOT ASHAMED TO SEEK HELP MEANS THEY’RE APT TO MAKE EVEN SMARTER DECISIONS.
The bottom line is this: The next time you assume women don’t understand money management, think again.