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  1. Home
  2. Finance

Research finds women manage money better than men

A study worth reading about. - by Laura Barry
  • 12 Mar 2019
Research finds women manage money better than men

Men may earn more than women and retire with more money in their super fund than women, but it turns out women have become very adept at handling their finances, despite not being entirely comfortable doing so.

New research conducted by CoreData for Fidelity International has discovered that 42 per cent of women worry about money at least one per day or once per week.

The data also found that women tend to focus on goals rather than personal financial gain when it comes to managing their money, such as having enough money to provide for their family, being able to pay off their mortgage and having enough money to live the lifestyle they want well into retirement.

australian money
Getty

However, ASIC’s MoneySmart reports that 55 per cent of women under 35 find dealing with money stressful and overwhelming, and that 85 per cent of women under 35 don’t understand fundamental investment concepts.

However, in spite of all that, it turns out women are better at managing their money than men.

Data and analytics business Illion has just released their Credit Card Nation report, and it revealed that men are bigger spenders than women and worse at paying back their debt.

The report found that 56 per cent of all credit cards in Australia belong to men, and that those credit card accounts are more likely to be behind in their payments.

purse full of australian money
Getty

The chief executive officer of Illion, Sam Bligh, told News.com.au that men usually rack up bigger purchases and that men are risk takers that tend to spend big on electronics and other large expenditure items.

The Fidelity International research revealed that women do not feel confident investing their money, and generally aren’t risk takers. While that may put them at a disadvantage when it comes to investing, it turns out that an aversion to risk has made women better at managing their finances in general.

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  • Finance
  • Better Life
Laura Barry
Laura Barry
Laura Barry is a writer, bookworm and interior design enthusiast with a love for reporting on all things homes, travel and lifestyle. When not tapping away at her keyboard, Laura can be found making endless cups of tea or perusing the shelves of Sydney’s many bookstores.

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YOU’LL NEED A WEDGE TO HANG THAT DOOR
Watch 6:32

YOU’LL NEED A WEDGE TO HANG THAT DOOR

{headline}

{headline}

Six rules that will change your relationship with money

Six rules that will change your relationship with money

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5 legal ways to reduce your capital gains tax on investment property

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How you can save money on your home loan by going green

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{headline}

This is how long it takes to save a home deposit in Sydney

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The potential property hotspots for 2020

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The January 2020 changes all first home buyers need to know about

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7 ways to slash your bills in the New Year

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Why you should reconsider hosting an open house inspection

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6 Christmas budgeting tips to keep your credit card in check this year

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