Myth #1: Women spend more money than men.
I am here today to debunk the myth that women spend more money than men and talk about how societal stereotypes play into money management.
As a Financial Advisor for Women, I find that there are many stereotypes about women and money, specifically their spending habits. When most people think of women and spending, they may think of a shopping spree: a young woman holding many colorful paper bags, probably juggling her cell phone and a Starbucks latte, basically frivolous spending.
- In a study of 300 articles, researchers found that women were defined as “excessive spenders” across 65% of the articles aimed at them. The consensus was that when women shop, it’s frivolous, but when men spend money on big purchases, they’re ‘investments’.
This is the first post in a series of blog posts that bust three myths about women and money. Want to learn more about women and money myths? Check out: Myth #2 Women aren’t good investors and Myth #3: Women aren’t financially savvy by checking out my previous blogs.
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