Personal Finance Advice for Men: Why Don’t You Just Follow Women!


women lifestyle

Let’s begin with addressing the guys here – You all notice girls all the time (you can’t deny that!).

You adore their simplicity and drool over their efficient management skills. You gape at how perfectly they handle each task – be it a homely chore, or their professional assignments. Your mom, sister or your best friend are not only good at balancing their jobs and housework together, but they also excel at handling their personal finance!

If you disagree, we won’t get offended. In facts, we will prove it to you.

We have compiled together the best 10 habits of women, that makes them better at handling financial planning. After reading this article, next time you see a woman bragging about her excellence in managing personal finance, you could shout out to her – “Hey, men are no less!” (Nobody would believe you, though.) Let’s begin:

Women don’t take worthless risk and shortcuts personal finance

Finance lesson from females

When compared to men, women are more risk-averse. They do not believe in reaping short-term profits by buying and selling stocks for a lesser amount of time, as they know that timing the market is not an easy nut to crack! By being cautious at each step, women make fewer monetary mistakes and hence lose less money.

Now it isn’t that they don’t take risks at all – but easy money does not allure them.  They smell something fishy in such situations and prefer keeping a distance! Indian women are an expert in spotting out false people. Can you recall the time your mother warned you against some friend, who was nice initially but actually showed his true colours later on? Yes. We’re talking about that gut feeling.

Women are better students

finance lesson from females

Not supporting feminism here, we just wrote what is statistically proven. Being honest, managing money is more of a cerebral activity, and it requires a lot of thoughtful research. Research indicates that women are better students than men, and this is proved when it comes to handling personal finance. After all, the NEET exam and the CBSE exam was topped by girls. Just learn their tricks and you could be there too! So, the next time you plan on managing money, do your research well, talk to the concerned experienced people think it through and then take action – maybe you come at an equal level to the opposite gender then! MAYBE!

Women are not scared to ask for help or shy to bargain

Men need to learn finance from women

You might think that we put forward a cliché, but it’s 100% true! Men are less likely to ask for help, and that is what puts them behind. According to a report, women are more likely to ask for help and advice, gathering information from all the sources they can. 53% of women from around the globe opt for financial advisors, against 43% of men. Being smart enough to seek out for help whenever you’re stuck, with a tinge of humility, is one of the best ways to get ahead in business, and women seem to have mastered the art!

Moreover, women in India are amazing at their bargaining skills. Where the men pay whatever price is asked, women examine the item, assess it’s worth and then ask the shopkeeper to lower the prices down. They succeed most of the times, carrying both their favourite item and a few bucks more home, with a radiant smile of success!

Women save more

Men need to learn finance from women

By more, we actually mean A LOT MORE! Women in India, sadly, are paid 25% less than men. Moreover, they have their family and household responsibilities to take care of. Playing a large role in nurturing the family causes them to give less priority to their financial planning. These factors drive them to save more, as they never know what the future might have in store. Not only this, let’s agree that females are amazing at cooking – so they save up a lot of bucks by cooking their meals, whereas you are sitting at a restaurant almost every other day, watching your money fly away!

According to the latest reports, women in India save almost 9% of their annual salary while men save 8.6%. To increase this ratio, why not befriend a female colleague and ask her to get a tiffin for you, while you could help her in the office work. A great deal, no?

Women are patient and think long-term

Men need to learn waiting from women

When it comes to managing money, whether at home or at a workplace, it’s crucial to have specific, actionable long-term goals. They do invest and save, but they’re thinking for the long term.  Moreover, they have the patience to wait until their money matures, which is a lesser seen quality in men. With money matters, patience nearly always wins over-exuberance, and women are simply more patient. Have you not seen your mother saving each penny, and not spending it even at her favourite saree? Yes, that is the level of self-control you need!

They go into the absolute details

What men need to learn from women in finance

According to the American Astronomical Society, women are more meticulous and detail oriented, as opposed to the opposite gender. They tend to be more thorough and perfectionists than men.

While opting for investment planning, they dig deeper into the finest details, which makes them less prone to losses. They go through the plan thoroughly, think it through, and then take any action. Men, on the contrary, tend to take impulsive decisions, that make them end up with losing money. Maybe that’s why Dads give money without asking anything, but Moms bombard you with questions once you take the word “Money?” out of your mouth!

Women are not overly optimistic

What women need to learn from women in finance

According to a recent survey, 21% of the male investors (as opposed to the 13% female investors) admit to being impulsive with trades that seem to be attractive and promise easy money. Optimism is good, of course, but only until it is based on facts. When it’s not, it is just wishful thinking, which is not the best foundation for personal financial planning. Women tend to be more wise and sharp minded in such situations, and they understand that everything that glitters is not gold. Moreover, women have to work twice as hard to get their money, so they are overly cautious about the whereabouts of their personal finance decisions, which instead works in their favour.

Women are more worried about the consequences of personal finance decisions on their family

what men can learn from women in finance

No, we’re not saying you don’t care about your family, just that comparatively, women do more. Actually, wealthy of both genders are worried about the implications of their investment decisions on the family, but women worry more. For instance, 69% of women admitted worrying about keeping their family financial level secure, while only 61% of men did, as stated in the latest research.

The difference is even greater when women have children. Women make more conservative, deliberate and patient choices than men, particularly when they have children. Women with more children under 18, make more conservative short- and long-term choices. Having children did not affect the patience displayed by men in the study.

Women invest in themselves

men should learn finance lessons from women

Taking care of oneself is one aspect all men tend to forget. Going to a spa to shed off stress or going to a parlour give a confidence boost, women don’t mind spending a few bucks on themselves. After all, they are the ones who manage both the house and the office, and the stress gets double, which often tends to limit their creativity and innovation. To keep them rejuvenated, an occasional visit to a salon isn’t that bad an idea after all. Not only does it refresh them mentally, but also enhances their physical appearance, boosting their confidence by a thousand times!

Women love gold and consider it the most suitable option for investment

What men can learn from women in finance

By love, we mean LOVE, or maybe something beyond that. Almost every woman in India adores gold, and whenever she feels like rewarding herself or wants to invest, she is on her heels to run to her favourite jewellery showroom! Not only gold brings diversity in your portfolio – returns on gold have a negative correlation with that of the stock market – but also it’s prices are shooting up day by day. Therefore, dear men, why not get a little gold for your sister/mother/wife, or maybe yourself? Just do it, and after the amazing response you get, you could definitely thank us later, guys!

Everyone out there, take inspiration from women in your personal finance and you’ll have a smooth sail. Honestly, investing like a stereotypical girl really is the best way to manage your money. After all, behind a successful man, there’s always a woman, right? 😉

Written by

Chetna Bajpai