Do men and women have different approaches to money ?

The answer is Yes ! Extensive research has been done around this  topic and some of the results seem to prove the stereotypes to be correct while  others identify popular thinking to be a myth. Whether you agree with these results or not men and women are different and they often look at the world differently.  Being aware of these global differences may help you next time you get upset with your partner for apparent lack of understanding on money issues. Everyone looks at money differently and your partner will not look at money in the same way you do.

  
Approaches to money :

• Men tend to be  hunters and women gatherers.

• Men tend to view money in a win or lose manner and most will find nothing wrong with purchasing a big ticket item like a car without consulting his partner. Women often get upset at not being consulted over this because in their view they have a partnership going and should be working as a team !

• Men are raised to believe that they will be good at dealing with money and while women are raised to defer  financial decision making to their husbands whether they believe him to be better with money or not !

• When men make money they credit themselves and when they lose money they blame external sources such as their broker ! Women on the other hand will credit external sources like their financial advisor when they make money and blame themselves when they lose money.

• For most men earning more money means more power in decision making while women who make more money than their partners are more likely to opt for cooperative decision making.