Men and women are different in their money behaviours and feelings about money. We explored where these differences come from in our blog When it comes to money – Men and Women are different!

How do these differences impact our spending behaviour?

First of all, let’s look at a few myths and blind spots.

We’ll start with the Girls.  Here are a few women’s money myths:

  • Money is too complicated for me to understand
  • Learning about money is boring
  • I don’t have enough money or time to do anything about investing
  • If I take a risk, I could lose everything
  • I have to take care of everyone else first
  • We aren’t good with money, so I’d better find a man who’ll take care of it for me
  • “Bag lady fears” – I might end up out on the street with nothing

Guys, you don’t come off Scot free!  You have a few blind spots of your own:

  • Managing money is easy
  • If I make more money, I get to make the decisions
  • I don’t have to ask my wife/partner’s permission to purchase something
  • It’s a sign of weakness to ask for help
  • If I lose money it isn’t my fault, it’s the economy, the advisor

These stereotypes and gender biases have been around for generations, but they’re starting to change.

Traditionally, women have seen money as a way to enjoy and enhance day to day life and create a lifestyle.  In other words, it’s all about the here and now.

While men, on the other hand, see money as something to be accumulated and gain in value. It’s all about the future. So they typically don’t spend – they invest.

What do we like to spend our money on?

This list comes from a compilation of surveys undertaken in the US.  It focuses on where men and women choose to spend their money, after the necessities of life have been paid for.



Interestingly though, when it comes to impulse spending, a recent study debunked the myth that it’s women who impulse spend.

The research showed that men actually spend more on impulse shopping (21% have spent more than $500, compared to 7% of women).  They feel less guilty about it than women (46% of men feel guilt compared to 52% of women) and what motivates the impulse is also different.  Men are twice as likely to purchase something when drunk, than a woman is.

Once we understand the differences we need to embrace them because they’re complementary. In a trusting relationship these differences work well together, particularly when there’s a plan and common financial goals in place.

If you would like to explore your relationship with money further sign up for our newsletter, drop us a line, or have a look at our events page for our upcoming workshops