When it comes to money, are women are more competitive than men?
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Contributing Author: Emily Steves
Some find it hard to believe, but stats say that women are better at investing than men.
They might not top the list of richest people in the world, but when it comes to calling shots, they are on par with, and at times even a notch above, men.
Researchers have been studying this subject for a very long time. The sexism unfortunately still exists, which means we have to come up with facts in order to prove our claim.
As per a study conducted in Germany by the Center of Financial Research, both men and women gave same results. The research was based on finance managers of both genders and their investing habits.
However, there was a major change recorded.
As per reports, women investors traded less frequently in comparison to their male counterparts.
It means that they had to pay lower transaction costs, which means they made a higher overall profit. They also saved tax payments for their clients who seemed to be more satisfied with their female finance managers.
If this research is not enough to prove the point, then there is more to follow.
In 2005, a surprising outcome of a survey was announced by Merill Lynch. As per the survey, men committed more portfolio violations in comparison to women. Not just this, as per a very in-depth report published by Brad Barber and Terrance Odean, single women earned more than single men.
The research was conducted on over 35,000 household discount brokerage accounts in a time period of six years (1991 to 1997). Another report released during the same period clarified that married men did better than single men; however, this has its own reasons.
Every successful man has a woman to thank.
Now that it is clear that women are better investors than men, the real question arises.
How do they really do it?
Is there a secret formula that men are deprived of?
Well, not really. The trick is very plain and easy to understand.
Actually, two schools of thoughts exist in this regard.
Some believe that women are better decision makers because they think from their heart and also bring the human factor into their decisions. While some say that it is because women are more competitive than men.
We think that it is a mixture of both.
It is a known fact that women are very competitive and they don’t like being surpassed by someone else. They’ll give their blood and sweat to achieve their goal and won’t sit until they are successful in doing so.
Some call men rational fools and blame them for taking decision in haste without thinking about all the possible outcomes.
They are also driven by various forces and are more concentrated on one thing than the whole result in general.
In comparison, women like looking at the broader picture, which makes it easier for them to make wise decisions, be it regarding a new venture or debt settlement.
Debt settlement is a big issue that both men and women suffer from.
Women, often blamed for shopping crazily, are less involved in debt issues and have a clear chit. They might be impulsive buyers, but are good when it comes to clearing their accounts.
It is a known fact that women are good with due dates. They like making their payments on time and don’t forget about it.
This small quality of women greatly helps their overall ability to fight bad times. When they are enjoying good days financially, they know how to save for the rainy days. In comparison to them, men spend money as they receive it.
These small things that we often tend to neglect make a very big difference in the long-run. This is why it is important to pay attention to everything.
Women have an eye for minute details that helps them achieve their goals in a better way. Their won’t-give-up attitude and self confidence also helps them fight all kinds of competitors, including men, to stay at the top spot.
About the Contributing Author:
Emily Steves is a financial writer associated with many finance related groups and communities as their freelance and staff writer. She is an expert in dealing with debt consolidation matters. According to her opinion Consolidated Credit are one of the companies who provide debt settlement services and help.
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