1. Beauty. Naturally, female take hygiene and beauty seriously and as such they spend more on grooming be it clothing, skin and hair care, or yoga and gym classes. Guys tend to spend on gadgets – which though more expensive but the total spend in a year favours the lady.

2. Taste. Studies show ‘Men Buy, Women Shop’. Men have a goal and just get what they want and off they go. On the other hand, women prefer to go for current fashion, latest outlet and tasty ambience – where personal spending is concern. This is more obvious for those who are climbing the corporate ladder. All these translate to higher cost and spending though it may not be frequent.

3. Company. When it comes to shopping women seldom shop alone. They prefer company and to them this is a luxury, as a compensation for office work and family sacrifices, and this promote fancy and fantasy, peer shopping and entertainment. Again, this means a fatter budget is necessary each time they shop – which can be often!

4. Cultural Roles. In Asia, the traditional role of women is homemaker and that of men are bread winner. Though most women are working these days nevertheless this value system is entrenched in the women’s mind. As such their inclination or rather expectations are for the men to engage in property and investment, once they are married, while theirs are practical provisions.

5. Money equals Independence. This is almost universal. Women, who engage actively to accumulate and invest, while they are single or married, indicate their need for financial independence. This often translates to more say and equal decision making in the home or family, either married or otherwise.

6. Goals and Growth. Women perceive money as a means for better education and health, survival and security for her or the family. Her goals and growth are closely related to nurturing. This applies to debts too, if any are contracted. Men’s perception is about house, car, business expansion or a vacation. It is also about status and luxury, competition and growth. This is also true for their debts.

Women and money are about being practical, having provisions and gaining security while luxury is about a compensation for her sacrifices in nurturing others. Going forward women must leverage financial literacy and planning to ensure these goals, priorities and values are met soonest possible. Join us for more sharing on how Women can be more Engaged, Enabled, Empowered & Enriched.