It’s hard to imagine having no rights or ownership over your hard earned cash, no? Such was the reality that women had to endure for an embarrasingly long time. Oppression and suppression of women had become a way of the world- where they were expected to abide by the narrow mould that the society presented them with. Over the years, humanity became acquainted with the Postmodern age of living, which led to these morals and ethics come into the light of scepticism.

In the early ages women were reduced to merely being a child bearer and a caregiver to all. As time progressed, they established a sense of authority, not shying away from the judgemental eyes of Patriarchy. Women got educated, became more “worldly”, while also shouldering all domestic responsibilities.

Initially, finances were dismissed as ‘matters of the men’, but this new shift has taken place in the last decade, where more women are handling money in their households.

There has been no set reason why the shift came into play, but there are a number of theories, and a rationale behind the evolution towards a better economical curve.

Having a woman in charge of the money at home could actually help families save more in the long run since men are inherently more likely to get into debt, research shows. 

Household finances are not smooth sailing, because the precariousness that goes along with it. Here are some of the theories, that can be a potential cause of the shift in financial power, establishing women as the backbone of money matters:

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Organized Femme

Women are said to be more detail oriented , organized, and meticulous than men. They are more likely to exhibit perfectionist-like characteristics, which we can blatantly blame on the kind of societal pressure that they have had to endure to become “perfect”. High attention to detail is an essential qualities to successful money management. Indian mother are pros in budgeting, and crunching numbers and getting inspired by them would be investing in stable future.

Adios Recklessness!

Women are said to be better investors than men. Experts have attributed this quality to the fact that women tend to be more cautious, and take calculated risks, unlike men. Trading more conservatively has led them to become a success in such aspects. Though sometimes taking a little risk may pay off while investing, but the general rule of thumb is to strike a balance between high risk and low risk investments in your portfolio. Being too aggressive can burn a bigger hole in your pocket.

Doubt > Overconfidence

Men are often associated with overconfidence. It can also by a byproduct of toxic masculinity, but it is what it is. The finance industry has always been male dominated. University of California studied and concluded that it is men who expect their portfolios to outperform the market. Women have outperformed men in the investor market for a decade, now.​

Planning ahead

We live in an age where we are still fighting wage discrimination. It seems like the battle has been won, but the war is ongoing. Women are said to be more concerned with their retirement plans, and savings. In a Canadian study it was revealed that 69% of women have a retirement plan in place, while only 55% of men could vouch for the same.

One plausible cause that the numbers are so drastic could be because of the wage gap, where women still make less  than men do, as a result women have to plan ahead, save more so that they can retire in peace. 

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Long term goals

Having clarity on the front of what you expect from life can change your outlook on how you spend money. Women are said to have more long term goals, as compared to men. Women are said to weigh and measure the kind of inclume flux that would go into building a more stable life. The partners are always involved in the decision making process, but the drive is initiated by women. They tend to make conservative financial decisions, looking more into the future, and exhibiting more patience than men when family at stake.

Long-term financial goals include saving for a house, their children’s’ college tuition and investing for retirement; while many men focus on outsmarting the market.

Keeping track, and seeking advice

Women are more likely to keep a record of the financial expenditures, be it in a household, or outside. Taking solace in knowing where your money is being spent, is often showcased as a motherly habit. Aside from the imposition of stereotypes, that habit stands true in most homes.
Maybe it is because the toxic masculinity that men don’t function well with seeking advice. On the contrary, women are better at seeking help when they need to, which allows them to gain varied perspectives on the situation, and weigh in carefully.

Take a leaf out of your mom’s book!

Although the aforementioned traits give women an edge over men as far as managing finances are concerned., but gender is in no way reflect a person’s capacity to handle certain things. There are innumerable elements that determine financial success, and a number of men are crushing the game as well. Irrespective of your gender, it will be helpful for you to pick and adopt some great advice on financial matters.

Setting specific goals when it comes to investing, becoming less impulsive, and eliminate unnecessary risks by conducting intense research would better your chances of becoming as great as mums are with finances.

Chances are if you do adopt a thing or two from this list of gems, you’ll get one step closer to attaining your mum’s sense of finance- which is an achievement of its own.

Apr 10/19

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