The Difference Between Men and Women
by Candace Bahr, CEA, CDFA and Ginita Wall, CPA, CFPreg;
www.WIFE.org
www.MoneyClubs.com
Until recently, the world of finances has been pretty much male dominated. And men and women think and learn very differently. For the most part, men don't enjoy group interaction and sharing. Men are more likely to go it alone, prizing independence and autonomy, while women seek interaction and chemistry.
There are a number of scientific studies and findings that back up what we women have always intuitively known. Consider these:
Men focus, women integrate.
Studies show that men's brains are more localized, specialized and efficient at focusing. Women's are more distributed, connected and better at integrating. That's why so many women think holistically, and it explains their ability to pull together information, what we've always known as "women's intuition."
Men compare, women share.
Martha Barletta, an expert in gender focus marketing, has found that men relate to their friends by doing things together such as golfing, fishing, or going to ball games. Women, on the other hand, see sharing conversations as the primary point of getting together with friends. No matter what women do or where they go with their friends, they talk. They talk about people, family, and issues that are important to them. Men talk too. But when men talk, they talk about things or events, comparing performance and swapping scores.
Men compete, women cooperate.
Emory University recently studied women to see if they were more likely to cooperate or compete. But though they would earn more money by competing, the scientists found that most women engaged in cooperative strategy, helping each other to reach the goal. And when they cooperated, MRI scans showed their brains lit up with pleasure. Women love to help each other, and now we know why-we're wired for it!
Under stress, men fight/flight, women tend/befriend.
A study at UCLA found that under stress, men's bodies produce adrenaline, while women release oxytocin, a hormone that triggers an urge for interpersonal interaction and closeness. Women know that there's no one like a good girlfriend to talk to when you've had a bad day.
Rather than going it alone, that's why women prefer to go to health clubs to work out, they join book clubs and gather to play bunco. Women join groups when they diet. We all know that this is a far more effective way for women to succeed. And now we've got Money Clubs for women, so we can help each other as we help ourselves.
Cofounders sixteen years ago of the nonprofit Women#146;s Institute for Financial Education (
www.WIFE.org
) and the new MoneyClub for women (
www.MoneyClubs.com
), Candace Bahr, CEA, CDFA and Ginita Wall, CPA, CFPreg; are trusted financial guides for millions of women. As owner of her own investment management firm, Candace was recently recognized as one of the top ten brokers in the country for 2003 by Registered Rep magazine. Ginita has been named to Worth magazine#146;s Top Financial Advisors for seven years. Both authors are nationally-recognized experts on women and money and regularly appear on CNN and CNBC and in national financial and women#146;s publications. This article is excerpted from their new book
It#146;s More Than Money#151;It#146;s Your Life! The New Money Club for Women
(John Wiley, 2004). Permission granted for use on DrLaura.com.
