At first glance, it may seem that drawing up a financial plan, a financial deposit and credit management, all these financial issues are neutral in the modern world and have nothing to do with women or men. But it turns out that one of the aspects that makes a much more complex business and family relationship is that men and women treat money differently and treat it differently. This does not mean that one or the other is doing better, which means that men and women have different attitudes towards money. Where then is the mysterious difference in the treatment of financial resources?
Spending on financial resources
We all know that men and women spend money for different purposes. Both of them can invest financially in business development, education or self-improvement, but as soon as the issue comes to normal spending, we will face a dissonance. Annual studies by Master Card Treat Index show that not only are the sexes spending money on emotional purchases, although psychologists say they get much more pleasure from such purchases. It turns out that the majority of women (51%) and a third of men (33%) buy nice things to improve their mood. The vast majority of respondents (58%) admitted to loving to spend money to please themselves. Men usually choose to buy more expensive ones, for example, 24% of men’s money is spent on recreation, entertainment and new occasions. Women usually choose less expensive purchases, usually cosmetics, perfumes, fashionable clothes, shoes or accessories.
Emotions associated with financial resources
Dave Ruper in his book “The Secret Money” says that money for men serves as a benchmark for how successful they are and how well their lives are, and for women, relationships and relationships are the first. It is no secret to anyone that, in financial matters, women are more emotional than men. Women often have a sense of guilt when they have invested money and lost. In such cases, men are less likely to feel personal responsibility and tend to blame the market economy or the circumstances.
Free Money Investment Options
In this situation, the approach to spending is very different. Men believe that financial resources need to be invested in a prospective project that will be able to increase their profits. Men are ready to invest in long-term funds, focusing on both tax planning and savings, as well as looking at ambitious investment projects. Women, usually, are willing to invest in short-term money, such as financing various financial operations, balancing the balance on the credit card, and repaying the maximum current credit. How money influences women’s and men’s self-esteem.
Men are much more confident in their financial mastery and are only willing to risk their reputation. It has to be said that men often make a lot of mistakes in the financial sector, because physiology also plays an important role here, hormones make a man engage in risky stock exchange transactions. On the other hand, women are much more careful in this regard, they think a lot of times before they start to act, and before investing money, they are more familiar with the information. For women, investing money is often linked to a specific goal. If a man has come to invest the money, he can be coaxed much faster, invest money in it or another fund, presenting the relevant figures, curves and charts. Women can consider their decision much longer and make a well-thought-out decision, women are not as playful as men. For example, among people with addictions, women can meet much less often than men, but women who play games are almost absent. Women – Investors are capable of making better money than men, losing it, women have fewer chances, say SigFee’s analysis of Gender and Investing. But men’s courage and ability to risk, as experts say, can bring the maximum profit at the right time.
In companies, investment analysts are often male-dominated and objective, because of the high demands and competition in the work, men often win. But if this job has been occupied by a woman, they are usually very frivolous and capable workers, that is exactly what is needed for this job.
No matter how strange it is, but there are more women in the financial sector than men. If we look at the graduation from universities, we will see that among young professionals, in economics and finance, there are mostly women. In terms of percentage, women are leaders. The difference is that after the graduation, in practice, men are becoming more popular (occupying prestigious and leading positions), so it is often considered that most of the financial staff are men. If we talk specifically about financial staff, then it is very difficult and wrong to look only at sex, and this approach is out of the question.
Many of SigFee’s companies consider research to be careless, but no matter how lightly they are, they are given the chance to exist. It is possible that this issue will be further explored in the near future and will be given even more prominence.
Already now we can conclude that women are different investors, with caution and weighted decision-making. Representatives of the fair sex are more focused on “standing on their feet” and gaining maximum profit. Men’s investment style is more aggressive, so their investment results are subject to greater fluctuations.
In conclusion, we can say that many studies and surveys have been carried out in life. Most of the results show that people often choose partners (both in business and in life) with the opposite view of money. This is understandable because both women and men have their own weaknesses and strengths. The best option is to combine your strength. Men need to make decisions about aggressive investment and financial strategies, women need to control these processes. Combining opposing views will create the most effective collaboration between a man and a woman, both in business and in life.