Despite the fact that, after the economic crisis of 2008, women’s understanding of financial issues and their ability to make money has improved significantly, most people still feel that women’s knowledge of financial products and processes is very weak. While most women still prefer to rely on men when it comes to financial matters, their ability to handle money and make financial decisions is better than they think. Next, let’s look at the four most common beliefs about women and finances, which are actually false.
Women are impulsive buyers
One of the most common beliefs is that women act impulsively during shopping. The fact that women decide for a product or other product at the last minute does not mean that women are impulsive buyers – in most cases women have already included in their budget the amount they spend on a particular product – they just can’t decide whether to buy, for example, red or black shoes. Despite the fact that most women’s purchases seem impulsive, ie based on momentary emotions, in most cases their purchases are meeting needs rather than desires, although they are often bought for the will, not because they are needed.
Women do not know how to manage their finances
In fact, most people do not fully understand how to manage their finances successfully – this is a gender problem, not just a lack of women. However, most women do not trust themselves in budget planning, so they prefer to help family or friends. For this reason, it may seem that women do not manage their finances, but that is not true – they are just afraid.
Women do not understand how to plan retirement
Since the 2008 crisis, women’s interest in pension plans, funds and retirement planning has increased significantly. If only 47% of women thought about it before the crisis, 72% of women now think about it. With the familiarization and exploration of retirement products, women’s understanding of retirement planning has also increased. This increase is also due to the fact that more and more women are becoming the main money earners in the family or living alone, providing themselves. Such circumstances make you think more about your financial future, including your old age pension.
Women do not take financial decisions that affect their households
The belief that women do not make financial decisions about household issues is old-fashioned and crooked. Women are able to make permanent financial decisions that affect their homes, not only when they are alone, but also in marriage. As experience shows, most women are able to deal with financial issues on their own and, if necessary, in consultation with the spouse. As you can see, women are becoming more and more knowledgeable about issues related to personal finance planning and investing in future generations.