The gender gap in personal finance
It’s not surprising that men and women handle their personal finances differently. Yet, data collected by the employee benefits company Financial Finesse shows that men trump women when it comes to managing their wallets.
Out of the 3,500 U.S. workers polled, 90 percent of men said they pay their bills on time each month compared to only 74 percent of women. Also, 71 percent of men said they have a handle on their cash flow so they spend less than they earn each month, while only 53 percent of women could claim the same.
Manisha Thakor, a Houston-based finance expert for women, explains that women tend to be less educated in personal finance.
“Men talk socially about money and business,” said Thakor. “Women are talking about nurturing subjects.”
Also, women are paid less than men, making such things as paying bills and credit card balances harder, she said.
Who handles finances better in your household?