How women manage money

Do you think women good in manage money? Some of my friends say that most of women have proper money management but is it true?
Let’s look at this fact

financial-tips-forwomen

Budgeting
Women are highly confident in their ability to budget but around a half say they don’t budget regularly. While women report better budgeting habits than men, they are less likely to thing they’d get by in a financial emergency.

91% of women say they have the ability to budget (men 90%)
80% say they thing about ways to reduce their spending (men 78%)
44% say they do not budget regularly for their day to day finances (men 52%)
77% say they could get by for some time in case of a financial emergenty (men 82%)

Saving
Women are highly confident in their ability to save and the majority of women say they have good savings habits, but one in five say they don’t save. Women and men report similar attitudes and behaviours when it comes to saving but women are more likely to say they save before they spend.

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88% of women say they have the ability to save (men 88%)
22% say they don’t save (men 21%)
62% say that they save regularly (men 63%)
52% say they save first and spend second (men 48%)
42% say they spend first and save second (men 44%)

Investing
Compared to budgeting and saving, fewer women are confident in their ability to invest, but the majority are interested in learning more. Women are also less confident than men when it comes to investing, and are less likely to take factors such as risk and return into consideration when making an investment decision.

63% of women say they have the ability to invest money (men 75%)
64% say they own or are currently paying off the home they live in (men 60%)
16% say they have an investment property and 43% say they have other investments (men 20% and 49% respectively)
30% would consider both risk and return when choosing an investment (men 38%)
68% are interested in learning more about investing money (men 71%)

Women Financial : Be money smart and take risks

Credit and debt
Women are highly confident in their ability to deal with credit cards and manage debt. Most women say they can manage debt, but some say they only make minimum repayments on credit card debt and loans and that they get into debt by buying things they can’t afford. Women are less likely than men to say that they have credit cards and loans and more likely to have other sources of debt. Women are also less likely to feel comfortable with their level of debt.

joint-credit

83% feel confident with credit cards and 88% of women say they can manage debt (men 84% and 90% respectively)
74% say that they regularly pay the total balance owing on their credit card when it is due (men 79%)
18% usually only make the minimum repayment on loans and 14% do the same with credit cards (men 16% and
13% respectively)
21% say they will use debt to buy things they can’t afford (men 22%)
71% say they have a credit card, 55% say they have loans and 23% say they have other debt (men 73%, 57% and 21% respectively)
18% of women say they are uncomfortable with their level of debt (men 15%)

Planning and retirement

Compared to budgeting, saving, dealing with credit cards and managing debt, women are less confident in their ability to plan for their long-term financial future and ensure enough money for retirement. Women are also less confident than men when it comes to planning for their long-term financial future and ensuring enough money for retirement, but they are interested in learning more about planning for their financial future, including in retirement.

77% of women say they have the ability to plan for their long-term future (men 84%)
60% say they have the ability to ensure enough money for retirement (men 65%)
78% say they have a superannuation fund (men 84%)
12% say employer funded superannuation will meet their retirement needs (men 16%)
74% say they have personally thought about long-term financial plans for the future and retirement (men 78%)
78% are interested in learning more about planning for their long-term financial future and 72% are interested in learning more about ensuring enough money for retirement (men 77% and 70% respectively)

Protecting money
Women are highly confident in their ability to protect their money, including through choosing appropriate insurance, understanding rights and responsibilities when dealing with money, and recognising a scam. However, fewer women are confident in their ability to invest and the findings indicate that the majority wouldn’t take key considerations into account when making an investment decision, so they may be more vulnerable to scams than they think. Women and men report similar attitudes and behaviour when it comes to protecting money.

81% of women say they have the ability to choose appropriate insurance (men 82%)
85% say they understand their rights and responsibilities when dealing with money (men 86%)
87% say they can recognise a scam or an investment scheme that seems too good to be true (men 89%)
63% of women say they have the ability to invest money (men 75%)
70% would not consider both risk and return when choosing an investment (men 62%)

Information and advice
Women are highly confident in their ability to get information about money with a majority having sought financial information or advice from an accountant/tax agent or a bank, and just over a half from a financial adviser.
Fewer women are confident in their ability to understand financial language, consistent with their level of confidence in ability to invest and ensure enough money for retirement, and most are interested in learning more. Women and men report similar abilities in obtaining information about money and dealing with financial service providers but there are substantial differences in their preferred sources of information or advice.

women-money
Women are more likely than men to consider getting information and advice from financial advisors, banks, community services and government sources.

84% of women say they have the ability to get information about money (men 85%)
81% say they have the ability to deal with financial service providers (men 82%)
66% say they have used an account/tax agent, and 60% say they have used a bank for financial advice (men 69% and 53% respectively)
60% say they understand financial language and 70% are interested in learning more (men 68% and 66% respectively)
79% say they understand all or most of the information in financial statements (men 80%)
84% say that for financial information and advice they would consider using a financial advisor, 65% a bank, 48% a community service and 33% Centrelink (men 80%, 55%, 36% and 25% respectively)

The fact is only available on the time and country only. Maybe it is not totally accurate now.
Source :- Financialliteracy

Life not easy especially when it is involved money. Even though for marriage couple, women
What question you need to discuss for long term care. Kevin O'Leary in his book

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