A radical discovery?
In an August Financial Advisor Online article, Michelle Matson offered this guidance to advisors, “Women look at finances differently than men. They look at long-term goals and at what they want to accomplish in life. Therefore, advisors should recognize the differences between men and women and help female clients focus on long-term goals and strategies rather than on short-term results.”1 This is apparently a radical discovery in the world of investments and investment advice, because two-thirds of women claim to be misunderstood by financial advisors.
Demolishing stereotypes
The implication in Matson’s statement is that short term results is the focus of the preponderance of men. Without corroborating documentation, we are led to conclude the investment patterns of men resemble a hunting trip, shoot…kill…eat. Two stereotypes need to be demolished. The penchant for short term thinking does not dominate the male mindset. Many of the finest male investment minds have been and continue to be long term, buy and hold, investors (e.g. Benjamin Graham, Warren Buffet, and Peter Lynch). The second is that men are financially superior to women!
The Biblical perspective of a woman’s financial prowess
Proverbs 31 extols the financial wisdom of women. More than 2000 years ago a writer living in a time of male domination celebrated this female trait. Women knew the value of raw materials and the value added process of manufacturing (verse 13). Proverbs 31 women were the predecessors of 21st century logistical planners, knowing where raw materials were found and how to create a delivery stream (verse 14). They were even recognized for their acumen in labor management and labor relations (verse 15)!
Allow giftedness to shine!
The ultimate lesson to be learned is allow the God given gifts found in people to shine. Families need not follow the patterns found in another family hoping for success. As we establish a budget, pay bills, balance a checkbook, establish longer range financial goals, and make investment decisions, discover which mate has the appropriate giftedness and entrust them with these issues. Talk openly about challenges, and be willing to listen when warnings arise. Allowing one to lead the process does not absolve the other of familial responsibility. Money is frequently said to be one of the great causes of family friction and potential divorce. God’s plan is to make it an element in the process of two becoming one flesh!
1Women Have Different Financial Goals Than Men. August 24, 2016 Financial Advisor Online. Demasters, Karen. Michelle Matson is a Vice President of Matson Money, a Cincinnati, Ohio investment advisory firm.