The Differences Between How Parents and Society Teach Boys and Girls
Financial Awareness
(Page 2)
The belief that men would take care of women’s financial needs was so
ingrained that many of the “big picture” financial lessons were
overlooked. Women tended to learn how to shop for bargains at the
grocery store, stretch the budget at the holidays and that was about it.
More complex lessons such as long-term investments, retirement planning
and stock portfolio development were not a part of the picture.
Boys learned how to manage their money, save for a rainy day, and make
smart investments and a host of other financial strategies.
Play and School Contribute to Gender Gap
Interestingly, boys more than girls tend to develop habits that are more
geared toward understanding numbers and how they relate to finances from
a very young age. While girls tend to be “collectors,” says Joline
Godfrey, founder of Independent Means, “boys develop informal economies
based on relative value from the age of six on while trading cards and
other items. By the time boys start trading stocks and bonds, it’s just
another form of the game.” Independent Means is a company which promotes
economic independence and growth for girls and women aged 14 to 24.
Even in school settings, boys are rewarded more consistently for being
risk-takers, and investing is often perceived as a risky venture. Girls
aren’t encouraged to take risks and aren’t rewarded for these types of
behaviors and instead are likely to be cautioned to be careful. When
faced with the prospect of learning about investing in the stock market
or learning about retirement options, these same girls – now women – are
more fearful of making decisions and less sure of themselves in making
choices for themselves.
Statistics Show Gender Bias
A recent survey showed some startling discrepancies even today between
teenage boys and girls and how much education they have received in the
very basics of finance. Some of the findings include: