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Time spent out of the workforce performing this unpaid work can greatly affect women’s financial wellbeing. For example when a couple applies for a loan and the advisor speaks directly to the male in the relationship rather than addressing the couple as equal partners.Īlthough women are in the workforce at greater numbers than ever before, the majority of unpaid caring and household work is still done by women. This may lead to assumptions about customers that are wrong, and that women find patronising.
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Such traditional views of gender include the idea that a male in heterosexual relationship should be the breadwinner of the family, and take care of the finances, despite the fact that most women work and manage their own finances. Although women’s roles in society have shifted dramatically over the past 100 years, outdated perceptions of gender roles still remain present both overtly and subconsciously within Australian society. Socialisation doesn’t just play a part in women’s approach to money but also how they are viewed by staff at financial institutions. This may be reinforced when women receive patronising or overly complicated language from financial sector workers. If a woman internalises these messages they may see themselves as inherently bad at maths and therefore bad with money, even if this does not match up with their own experience. This means there is a large drop-off of girls choosing Science Technology Engineering and Mathematics subjects in the later years of high school, even though the performance between girls and boys is roughly the same. Receiving these messages regularly can have an effect on their confidence and in turn affect their mathematics performance in the classroom. For example, girls often receive messages when they are growing up that women aren’t as good at maths as men. Socialisation reinforces rigid gender stereotypes that can affect how people interact with money. This can affect all aspects of someone’s life and their finances are no exception. There are different expectations placed on men and women in Australian society that may shape their behaviour. Gender is not an innate set of behaviours but something learned through factors such as family, education and general society.
Woman and finances how to#
Socialisation is the way we learn how to behave by what is acceptable within our society, and can play a large factor in the way women approach money.