Common Misconceptions About Women and Finances

woman shopping

After recently coming across a social media post recently by a man who is frustrated and upset with the financial decision making abilities of women – not just one woman as he is a single man without so much as a girlfriend (and judging by his rant, it’s clear to see why he hasn’t a girlfriend), I realized something. There are a lot of misconceptions about women regarding money. He went on and on about how women should not be ‘allowed’ to make financial decisions in the household and that they can’t make a good one to save their lives.

This got me thinking; there are so many misconceptions about women and finances that we should address them and get rid of those that are clearly outdated. Are you ready for this? This is what financial experts believe are outdated, huge misconceptions about ‘the little lady’ and her husband’s money.

Women don’t contribute

In fact, many women work and contribute to the household bills. Let’s add to that more women are in the workforce now that ever before. Let’s add to that the fact that many women who are home with their kids are running successful businesses from their living rooms and their home offices while doing it all.

Women don’t make financial decisions in the household

As a woman with a household, I can tell you that I certainly make financial decisions. While we make them together, it really all comes down to what I think is best. In fact, I think most couples I know are like this. They both discuss finances and make their decisions together. It’s not just the man’s job, even if he is the only working parent in a marriage.

Women don’t understand money

Well, now, that’s just not true. In fact, even the people that don’t have any money and use it in a way that is not wise understand money. They understand that it buys them things, does not last forever and there is never enough of it to do every single thing without being an heiress. In all seriousness, women understand money. We understand retirement and interest rates and loans and mortgage and how to balance checkbooks; we get it.

Women are impulsive

We can all be impulsive at times. But let me tell you that women might seem that way, but most of us think long and hard about our decisions before we spend any money. Sure, we might pick up something on major sale impulsively, but I’m betting it fits right into the budget. In my house, and I don’t know about yours, my husband is the impulsive one. In fact, when someone is giving me a hard time about wearing my new pair of Christian Louboutins telling me they are a waste (and after I point out they are an investment that will last me a lifetime since they are a classic style), I have to point out that my husband is the one who impulsively bought them for me because he knew I’d mentioned liking them. So there.

Women are not the financial morons that men like to think we are. At least, we are not all like that.

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