Research shows that when it comes to discussing money matters women are more likely to talk things than are men. That’s the results according to a new survey released by Ameriprise Financial.
The study, which is entitled “Money Across Generations II”, shows how differently the genders are when it comes to dealing with money matters.
Results of the study showed that out of the 93 percent of baby boomers surveyed who admitted to helping their children with financial issues, men were more likely to reach for their wallets while women talked over the issues.
The survey showed how women handled children’s financial issues differently than men:
making automobile purchases……………………………………..fathers- 58 %: mothers- 48 %
co-signing for a loan…………………………………………………..fathers- 42 %: mothers- 32 %
paying for a child’s car insurance premium……………………fathers- 51 %: mothers- 43 %
supplemented car payments…………………………………………fathers- 37 %: mothers- 29 %
When asked which they would do first, men were more likely to help their children purchase a car or pay off their child’s’ credit card debt versus saving that money for retirement.
As for discussing finances with relatives, 54 % of women were likely to do so compared to 46 % of men.
When the men were asked why they were more likely to remain silent about financial issues, the most common reason was because they believed that it was none of their business.
