Women ‘stay quiet about money to avoid mansplaining’

Many women are staying quiet about money to stop men giving them unwanted financial advice.

According to research by Moneyfarm, men “mansplain” personal finance to women 11 times a month.

As a result, 60% of women are actively avoiding talking about money because they’re wary about being given unsolicited tips.

Carina Chambers, financial expert at Moneyfarm, warned that mansplaining “isn’t just patronising”, but also creating a “legitimate barrier to equality”.

“It is deeply concerning that women continue to face the ingrained assumption that they lack the same levels of competence in financial matters as men,” she commented.

Husbands, partners and colleagues the worst offenders

Nearly two-thirds of women say they’ve had unsolicited tips from men on financial matters, such as budgeting and investing.

And a similar number said they’ve been talked over or interrupted by a man who assumed they wouldn’t understand a personal finance issue.

Worryingly, much of this is happening in the home.

The study found that women are most likely to be mansplained to about money by their husbands or partners.

And outside the home, male colleagues are often giving unwanted opinions.

In fact, four in ten incidents of financial mansplaining happen at home and at work.

But there are plenty of other places where women can’t escape unsolicited advice.

For example, many said they’d been mansplained to by their bank manager, taxi drivers and while in the pub or at social events.

“These outdated notions must be challenged,” Ms Chambers said.

“An environment fostered where women’s voices are respected, valued, and where they feel comfortable asking questions in all financial discussions.”