It’s March! And that means it’s Women’s History Month! To get even more specific, March 8 is International Woman’s Day. So why is this post titled financial advice for men? That’s a great question.
There are so many news articles, posts, etc. that pass themselves as journalism professing to have awesome financial advice for women, but in reality, most of them are shallow and patronizing. Stop spending money on clothes and make-up. Ditch the morning coffee – it’s the latte, not the gender pay gap, that keeps you from achieving your dreams. And we all know that women are the ones blowing all their money on lattes – men wouldn’t waste money on froofy drinks.
Just check out this post about home beauty regimes and saving money by avoiding name brands, or this gem ,which tells women to name their savings accounts to help them save money, for some solid ideas of what I’m talking about. Then there’s this huge list of financial advice from money wise, that has zero mentions of investing or retirement planning. It does, however, have five different mentions of spending less and budgeting. Because women are spenders, and if we just cut back, we’d be fine.
So, in honor of Women’s History Month, I thought it would be fun to flip the script. What if men were given the same type of sexist money advice that women get? What types of things would be on that list, and how does reading it make people feel? So, I present you with Financial Advice for Men, as written like financial advice for women is written (and maybe with a bit more snark).
Financial Advice for Men
Skip the Beers and Energy Drinks
A six pack of even the cheapest beer costs five or six dollars, and an energy drink costs anywhere from three to five dollars. If you’re buying one of these every day, that’s $35 dollars a week down the drain, and nearly $1600 per year. Instead of blowing that on tasty drinks for yourself, you should be saving it. Make coffee at home for that energy boost in the morning, and limit your six packs to once a week. It’s better for your wallet and your health.
Stop Buying Video Games
Come on guys. We know you aren’t saving as much as you should be because you had to have the latest Dungeon Master video game. That sixty bucks could have gone into your investment or savings account instead of being wasted on something fun for you. You should look at your entertainment center and see how much money you have in video games. If you have more than one or two games, consider selling them on Ebay. Playing games is a waste of time anyway, you should be focused on more important things.
Do You Really Need a Sports Car?
I get it, you want the latest model of the latest sports car so you can show off. How would everyone know your status if you didn’t drive a fast car? But sports cars (and new cars in general) are a giant waste of money. Instead, buy a used, reliable car such as a Toyota or Hyundai. These cars may not be as glamorous, but they are built to last, and will save you tons of money in the long run.
Why do you need to make yourself look presentable? It’s not like society tells you that the clean-shaven look is more desirable and professional. And with razors and other beard trimming products being so expensive, it’s much cheaper to go without. No one will even notice, it’s not like anyone can tell whether someone has shaved their face or not.
Don’t be Too Confident in Your Investing Skills
Men are renowned for their confidence. But, often times, they mistake confidence with hubris. This can lead to making riskier investment choices and losses in the long term. Instead of acting like you know all the answers, do a little research. Talk to a financial advisor and make sure your investments are solid and stable. You don’t need to have all the answers, but you do need to know when to ask for help.
How This Advice Relates to Women
I’m sure that most women reading this will see how much it mirrors advice we are given every day. Common financial advice that we hear is to skip the latte. It’s so ubiquitous that it spawned a book “the latte factor” in which a generous older man guides a naïve young woman and helps her make better financial decisions (full disclosure: I never actually read it – the reviews were enough for me to nope out).
The message from most financial advice for women is clear. Don’t buy lattes. Stop buying new clothes. Why are you wasting money on make-up? You don’t need name brand items.
Why doesn’t financial advice for men carry the same message? Don’t buy beer. Stop buying video games. Why are you wasting money on grooming products? You don’t need a sports car. See, stereotypical men waste just as much money as stereotypical women do.
Spending Vs Investing
I’m sure you also noticed that most of the advice in this column is related to not spending money. That’s because most financial advice for women is written in that vein. Traditionally, there hasn’t been lot of investment advice for women, or retirement planning advice for women. Most of the money advice for women is about clipping coupons or limiting the amount we spend on useless junk.
General financial advice, and financial advice geared towards men, is usually more well-rounded. Sure, there will be tips about how to save money, and usually that advice is solid. But men also get advice on how to invest, how to plan for retirement, and how to make the best use of tax laws. With women living longer and becoming breadwinners more and more, having that kind of advice is crucial.
It’s Getting Better
The one silver lining to this post is that it’s getting better. Much, much better. Although we can still easily find these silly articles telling women that they should just clip coupons and skip coffees, we can also find tons of solid financial advice written for women, by women. Just look to Tread Lightly, Retire Early’s epic post listing the Women of the Financial Independence Movement for a huge list of women writing about money. It may have started with women talking about financial independence, but it’s since been broadened to include a ton of women talking about a variety of money topics. That post spawned a movement of women coming together and talking about finance in real ways that are important to us. And I think it’s just the start.
More and more women are taking control of their own finances, getting involved in investments and retirement planning, and becoming the family breadwinners. And the media is slowly but surely following suit. Hopefully, someday soon, posts like this won’t be needed to draw attention to the differences. But we aren’t quite there yet.
How Did this Post Make You Feel
I know that I have a pretty equal ratio of male and female visitors, and I’d love to know how this post made everyone feel. Ladies, did you recognize the correlations in the advice right away? Gentleman, were you offended that I assumed you spent money on beers and video games? Or did you think it was ridiculous that I’d claim shaving doesn’t matter? What were your reactions? I’d love to know in the comments!