POST : Narcissists’ FINANCIAL Abuses
💴💰🧧 Is Psychology of Money a Gendered Affair?
Gender differences in the financial domain is gaining increasing attention, as evidenced by the UN 2030 Agenda for Sustainable Development. An extensive analytical strategy was employed on Scopus, Web of Science, PsycINFO, & EconLit – identifying 100 empirical papers on the topic, published between 1972 & 2021.
** These include papers from Asia, Europe, North America, Africa….
CONCLUSIONS : The research revealed clear differences in how men & women approach money — in attitude & symbolically — while money management practices turned out to be more complex & sometimes conflicting. Re. financial behaviors, studies indicate that both genders have similar approaches to savings & expenses monitoring, but financial investments are mainly pursued by men.
💙 Men often look at it as a symbol of success & power
💛 Women have more ambivalent attitudes, money as both a source of anxiety & a tool to ensure their security & prove their love to others. (MORE… with charts)
✔️ Sex Differences in Money Pathology in the General Population
Studies published in 2014 point to the psychological power of money. Interest has been particularly concerned with the relationship of it to happiness, & its role in personal relationships & in the workplace.
This study examined sex differences in money beliefs & behaviors. Over 100,000 British participants completed 2 measures online, one assessing “money pathology” & the other four “money types” based on emotional associations.
Gender can have an impact on how people experience the link between money & mental health. Nearly all measures showed significant sex differences with medium-to-large effect, with females exhibiting more “money pathology” than males –
💙 men were more likely to be Hoarders
💛 while women did more emotional-regulation purchasing.
The biggest differences showed money being associated with :
♠ Autonomy (money = freedom) men scored higher
♥ Generosity (money = love) : men scoring much lower than females
♠ Power & Security = men, more than women (MORE….)
Another study, finding from the Journal of Economic Psychology, reported consistently large differences in M vs F money styles. Although both genders tend to see money to be closely linked with Esteem & Power, the research concluded that :
💙 males are more prone to feel involved with & competent in handling money, & take risks to amass wealth
💛 females have a greater sense of envy & deprivation as a way of obtaining things & experiences which they can enjoy in the present.
Demographics – like gender, age & ethnicity – affect how we experience money & mental health problems (MHP).
💛 women with MHP are more likely to have trouble keeping up with domestic bills & credit commitments (59%),
💙 versus 52% of men with MHP.
NOTE :
Financial troubles are a common cause of anxiety, which drastically reduces recovery rates for common MH conditions. Combined with a range of social issues, life events, cognitive & personality factors, people with depression PLUS problem debt – are 4.2x more likely to still have depression 18 months later. And research found a strong link between problem debt & suicide, with more than 100,000 people in England attempting suicide each year because of it.
⬇️ Main results re. gender differences in money attitudes
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