“Women believe it is not their job to manage money”

GettyImages-867773878Are women bad at finances? It can’t be, right. We know how deftly our grandmas, moms, aunts managed the household budgets. They even managed to surprise their family with some extra cash whenever the family needed money to take care of an unforeseen expense. Then why is it that many women proudly declare these days they are not good at managing money. We asked three women mutual fund advisors about their experiences – well, it confirms the stereotype that women typically don’t like to get involved in managing money. Read on

Deepali Sen, Founder, Srujan Financial Advisors:

We don’t see many women coming in with their spouses to take part in the family financial planning. The situation has improved in the last decade but we are still behind the time. Women who single-handedly take charge of the financial aspects are generally conservative. From my experience, most of these women are hesitant when it comes to taking big financial decisions. I believe that this comes from the deep-rooted traditional mindset that we are brought up with. We have seen our mothers not taking part in the finances of the house, even when they are the ones who manage the budget. A lot of men are also not comfortable with roping in their wives to such critical discussions. However, as a practice, I push all my male clients to bring their wives along. These women are generally unaware of even the obvious details with regard to money and that is quite scary.

Shifali Satsangee, Founder, FundsVedaa:

When I speak to women who generally come with their partners, I tell them to at least know the basics like where the husband has invested. You will be shocked to know that these women don’t even know about the bank accounts of their husband. The women who single-handedly manage their family finances are divorced, widowed or in some cases now- millennial single women. When these women enter this space after they are left to do it all by their self- they are overwhelmed. Until then they are complacent. The issue with most women, especially when I speak to these in non-metro cities, is that they believe it is not for them or it is not their job. They lack basic awareness about anything related to money matters. This has definitely to do with the kind of societal stereotypes and upbringing.

Nisreen Mamaji, Founder, MoneyWorks Financial Adivosrs:

Majority of the women clients who come to me either come with their spouses or are widowed or separated. There are the new generation women who are talking full charge of their financial lives but they are a minority. Most of the women that come here with their partners do not take interest in the financial part of things. I think this is to do with the kind of upbringing we get in this society. We see the males of the family taking financial decisions and that gets etched in our minds. There are women who are doing all by themselves and taking care of their husband’s financial issues as well, but that’s mostly because the husband is either out of town or not available. So, I think women can do it but because they think it is not for them, they end up becoming complacent. Also, the service providers do harass their customers with multiple calls etc and women generally want to stay away from such behaviour.

Feeling let down. Well, get inspired by these five women who manage their money on their own: 5 women mutual fund investors share their journey (and one of them invests to buy an electric car)

[“source=economictimes.indiatimes”]

Women less sensitive to pain than men

Pain,Women and pain,Men and pain
When experiencing pain again, men seemed to be stressed and hypersensitive in remembering, but women were not stressed by their earlier experiences of pain. (Unsplash)

Women tend to forget pain that they suffered more quickly than men, confirmed a new study in mice and humans, challenging the widely held belief that the fairer sex are more sensitive to pain than men. The study, by researchers from Canada’s University of Toronto Mississauga (UTM), showed that men and women remembered earlier painful experiences differently.

When experiencing pain again, men seemed to be stressed and hypersensitive in remembering, but women were not stressed by their earlier experiences of pain.

“If remembered pain is a driving force for chronic pain and we understand how pain is remembered, we may be able to help some sufferers by treating the mechanisms behind the memories directly,” said lead author Loren Martin, Assistant Professor at the UTM.

“What was even more surprising was that men reacted more, because it is well known that women are both more sensitive to pain than men, and that they are also generally more stressed out,” Martin added.

For the study, published in the Current Biology journal, the team conducted experiments on both humans and mice where they were taken to specific rooms and made to experience low levels of pain caused by heat delivered to their hind paw or forearm.

Further, human participants were asked to wear a tightly inflated blood pressure cuff and exercise their arms for 20 minutes, while each mouse received a diluted injection of vinegar designed to cause a stomach ache for about 30 minutes. When the next day the participants returned to either the same or a different room and heat was again applied to their arms or hind paws, men rated the heat pain higher than they did the day before, and higher than the women did.

Similarly, male mice returning to the same environment exhibited a heightened heat pain response, while mice placed in a new and neutral environment did not.

[“source-“hindustantimes”]