8 Reasons Why Women Are Better at Managing Money

In the battle of the sexes, it’s often women who win with matters of finance. Women tend to be more financially responsible, whether it’s with their own savings or with the finances of others. If you’re wondering why, though, it might come down to one of these eight factors.

1. Money Focus

Women tend to get a bigger focus on saving when they are young than men. Men are allowed to be impulsive, while women are supposed to be sensible. For many, this means learning how to manage a household and how to manage one’s own income. It’s not always a fair situation, but it does impart skills that can help women in the long run.

2. Urge to Save

No matter what the level of income, women tend to have a driver to preserve. This is why you find women taking so many jobs in industries that help others and why women tend to be so good at conserving all types of resources. Being able to manage a bank account or even retirement portfolio can often seem like an outgrowth of the basic desire to preserve.

3. Family Matters

Women tend to take a view of financial responsibility that is centered on the family. The domestic role definitely makes proper saving important, as well as thrifty spending. In fact, the focus on the family often means that women are conditioned to look at how their savings processes can make life easier on everyone.

4. Social Impacts of Saving Money

Women are socialized to prize financial responsibility. This means not only being expected to manage finances but to take jobs that will offer long-term stability. It is ingrained in women from an early age that financial matters need to be handled carefully and that’s a kind of indoctrination that is not easily shaken.

5. Long-Term Money Planning

When it comes to finances, women tend to look at the long-term. Whether it’s because women have so frequently been put in terms of long-term responsibility in families or because of something innate, women look to the future. This means that every plan needs to work not only today but years from now. When it comes to financial matters, that often means making use of superior savings techniques and planning strategies.

6. Wage Gaps Play a Roll

Unfortunately, a real income gap exists between men and women. This means that women have become very good at saving, if only because they are often expected to do much more with much less. Even if a woman is in a field where she receives equal pay, it’s more likely that she will make sure to keep her savings account padded in order to weather any kind of difficult work situation in the future.

7. Delayed Gratification for Purchases

Women tend to be great at delayed gratification. Whether it’s biological or social, women are conditioned to wait for good things to happen. When it comes to financial management, this means that women tend to be a bit better at sticking to long-term goals. This isn’t always the rule, but being able to wait for the future is often an ideal way to stop from spending too much money today.

8. Traditional Money Roles

It should also be noted that women tend to excel at saving because money management has been a traditionally female role. As the managers of the household, women were often responsible for making money stretch. While things might have become a bit more equal in that department over recent years, this sort of mindset is definitely one that has managed to benefit women in the long-run.