Why Women are Better at Money than Men

Do you ever wonder if women are better at money than men? 

Based solely on popular perception, it seems like men are better at money. They make more money overall – based on factors such as how long they’ve been at their job, their level of education, and their seniority. 

Women are significantly more likely to take time off work to raise children, handle more responsibility for child care, and handle more responsibility for running a home. As a result, men are more likely to have unbroken history at work, leading to greater seniority and higher pay. 

However, there are several studies that show that women are actually better at money than men. Based on  

Here are 5 ways that women are better at money that men:    

1. Women carry less debt than men

Credit card debt can be a significant drag on your financial security. Turns out, women are doing slightly better than men at having lower credit card balances. They also have lower amounts of personal debt and car loans. Women also manage their personal credit interactions better, having slightly higher credit scores. 

2. Women save more than men 

Women save more of their income for retirement than men within similar income brackets. Saving for retirement is a huge component of a healthy financial plan. The more you can save for retirement, the better off you will be in your overall financial situation.

3. Women spend less money

Despite popular opinion to the contrary, women spend less money than men. Because they are more likely to be watching their finances carefully, women generally spend less money overall.  Women are also more price conscious, leading them to find better sales and deals on both essential items and larger purchases.  

4. Women’s investment results are better than men

As investors, women have better results than men. There are several reasons for this. Generally, women are more likely to exercise patience and discipline: two essential qualities for successful investing. This may end up leaving them with significantly more money in retirement than men. 

5. Women give more to charity

Women give more money to charity, and are significantly more likely to volunteer their time to charity causes. This may be due to their inherent motivations. Women are more likely than men to say that giving to charity brings them happiness. 

BOTTOM LINE: Gender isn’t a prerequisite for being good with money! Anyone can learn to handle their finances well.