Women Talking About Money-A Taboo
- affagent13
- May 30, 2016
- 1 min read
A study designed to measure how women view and address their finances found that with women, talking about money is TABOO.
The study was conducted online in 2015 and involved 1,542 women 18 years of age and over. They were all either employed or retired and had a retirement plan.
The researchers looked at:
The obstacles that hold them back
The incentives that would encourage them to take action
The study found that; although the majority of women are willing to discuss their finances, they hold back when it comes to talking about money.
Lack of confidence was a leading factor; less than 50% are confident discussing money and investing with others.
The hesitation to talk about money included hesitation to talk with friends, family members and financial professionals.
According to the study, women are more inclined to talk to friends about:
Medical issues
Shopping tips
Parenting Issues
Issues at work
Result Of The Study
Women were less inclined to talk to FRIENDS about investment ideas and spending habits. They were more likely to talk to their PARTNERS abut health issues and issues at work than investment ideas.
Women are more likely to talk to a medical professional than a financial professional, they are more confident discussing medical issues, 77% vs 47%.
Despite these findings:
-92% want to learn more about financial planning
-75% wan to learn more about money and investing
-83% want to get more involved inn their finances within a year.
You can read about the study and the incentives that would motivate them.
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