Examining the differences in how men, women handle their finances

(InvestigateTV) — A recent LendingTree survey revealed many differences between women and men when it comes to finances.

The survey found only 39% of women versus 42% or men said they were doing all right when it comes to money.

Stoy Hall, founder and CEO of Black Mammoth, shared several reasons why this may be the case.

“First elephant in the room, women don’t make as much money as men,” Hall stated. “So, all the things you see out there as men save more, they invest more, they take more risks. It’s because they make more. All right, so let’s just make sure we prelude everything with that.”

He said he finds men inherently have this “I’m just going to go do it” attitude about money, where women tend to be more nurturing and like to have plan.

“We have this huge disparity of women don’t save as much. They don’t invest as much because they don’t understand. Where is it going? What’s it doing? And how it works?,” he explained. “Whereas men on the other side are just like, send it. Like I’m just going to send it. We’ll figure it out and see what happens. And so, we see that a lot happening. I think it’s starting to change as we get into more education.

But Stoy said ultimately that’s the biggest divide outside the income disparities.

So how do we bridge that gap and change the narrative? Stoy said more education at a younger age, plus more examples of mothers and fathers teaching girls about investing.

He said also, just acknowledging money is emotions and feelings which is why there needs to be more understanding between people in relationships about how we each think and feel about money, saving, budgeting and planning.

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