Debt consolidationSex and Finance - What Difference Does it Make?
It's rather a strange question isn't it. After all finances are finances, whether they belong to a man or a woman surely? Actually not so.
It becomes apparent that men and women look at their finances from completely different aspects. And yes, a survey has been carried out to see whether this fact is true or not.
Women look at their current levels of debt
Women will seek to pay off their bills, credit cards, store cards, and other loans. They consider their mortgage commitments, plus day-to-day shopping and living costs. This apparent difference may stem from an inherent carer syndrome. Women after all are usually, although these days not always, the ones who have to worry about feeding the family and keeping them warm and clothed.
Men will look to the future
Men look at the 'larger picture' when it comes to planning their finances. Men will be more likely to invest their money, for instance more men than women have an ISA.
This may also be something to do with evolution
Men have evolved to take higher risks in comparison to women. They have been the hunters and risk-takers in pre-history, whereas women have been carers and left to 'look after the baby back in the cave. Considering the effects of male hormones, and the relation between that and risk-taking, men are more likely than women to take financial risks. This may be why there are very few women in banking!
Men are more laid back about their current levels of debt. However they are also better prepared for their future. Over three quarters of men pay into a pension fund, whereas only about half of women do so.
In the workplace men generally earn more than women
This is because men generally work longer hours. However working longer hours doesn't fully account for the difference in earnings. Men may be more likely to choose working in a difficult or dangerous environment such as on oil-rigs, becoming a steeplejack, or working down the mines.
Men are more likely to consider a long distance commute, or even re-locate to a new area for the right job. Also more men than women will take a position that requires considerable financial investment.
Women go for careers that are more flexible and safe
This is simply because they need to work hours to suit their home needs whilst also caring for a family. Unfortunately the trade-off here is that the salary is much lower, because of the laws of supply and demand. There are many more people wanting this type of work.
Women have found wealth in men to be an attractive quality when considering a future mate, and this may have further increased pressure on men to capitalize on financial investments. Having achieved financial success once, a man will often feel encouraged to attempt potentially greater financial risk-taking, possibly in order to attract a mate.
Financial differences and inequality between the sexes is a particularly difficult and seemingly endless topic to explore. It would be easy to write a full-length book on the subject!
This article may be copied and distributed, so long as the signature file and active links are also included.