The Canadian Financial Fitness 2022 research found something quite interesting on gender variation. When it comes to personal finance literacy, young men are more confident than young women. However, financial literacy test results showed that they are very similar. When they age, women become more confident, and men become less. Finally, they will converge. 😊
I heard real life example that men are more confident to apply for jobs even if they are not qualified, but women will less likely. Why is that? Does it mean that early childhood upbringing at home and in schools make boys more confident than girls? Then women learn to be more confident with more experience and knowledge later in life?
Perhaps, we women just simply need to give ourselves more credit? 😊
Some women rely on their husbands to manage the household finances and remain ignorant about it. It might be necessary to become financial literate and work on the household finance together with one’s spouse. The more knowledgeable spouse can help the other one to learn. This can facilitate the understanding. Money is one the top three reasons for divorce.
It is never too late to learn financial literacy regardless of your gender.