Bust The Money Myths

From gender stereotyping to being told that they don’t have a head for money, here are money myths that are holding women back.

- Kayal Arivalan

For centuries, women have been the de facto money managers at home, yet their abilities to manage money have usually been questioned and discounted. The perception that women have no authority over money weighs them down, despite having worked and contributed to the household income or being sole breadwinners. There are many myths surrounding women and money. Suganthi Suresh, Vice President, Wealth Management at Peak Alpha Investments, lists five money myths that are holding women back even today, and what the reality is.

MYTH 1: WOMEN DON’T HAVE A HEAD FOR MONEY.

This myth influences what women choose to study in college. While boys are expected to choose science, technology, engineering and math, women are often directed towards opting for streams such as the humanities and home science. Gender stereotyping continues and even career women still have to wrest control of spending (and saving) their own money.