Is there a difference between men and women’s attitude toward wealth and money? Perhaps. As most readers of this blog probably know, IFO is a woman. Has it been that obvious?
Remember Suze Orman? She treats money management from a psychological and entertainment point of view. Just get over your hangups about money and you’ll be fine.
Martha Stewart isn’t a money-maven, but she empowers women by showing them how to do stuff they might not ordinarily do – use an electrict drill, for example. By far the most beautiful of the three women, she is everywhere – TV, Internet, books, etc.
Here’s a new one for IFO – she heard Geneen Roth on the radio this morning. Her approach is spiritual and social. She has retreats and workshops and, like Orman, several books.
The most surprising thing IFO heard during Roth’s radio appearance was her comment on sentence-completion exercises she uses in her talks. One sentence to complete was “Money is…”
IFO’s very first thought was “…Freedom!” followed almost immediately by “… Safety!”
But that was the wrong answer. Roth’s students were writing answers like: “dirty, root of all evil, scary…” Some of her students, in another, more confessional mood, said they got headaches, or their brain became fuzzy, when they talked to their financial advisors!
That is so not like IFO! Of course, we’re not in favor of financial advisors at all, so that may explain that. We are closer to survivalist-type men who recommend growing your own food, having no debt, owning your own dwelling, using discount brokers, etc.
Roth and her friends may have significantly more wealth than IFO, though. She and her husband lost EVERYTHING when their investments in Bernie Madoff’s fund disappeared. Hence, the workshops, retreats, books, etc.
So, what do you think? Are (most) women more rational or more emotional about managing their money?