As Furnham and Argyle write in the Psychology of Money “ In most cultures women have had much less opportunity than men to handle significant sums of money. Pocket money and allowances are negotiated with the fathers by the boys, though girls may be encouraged to charm their fathers into opening their wallets. Hence some girls come believe that financial wheeling and dealing is a masculine activity and shun all money matters for fear that it renders them less feminine. On the other hand, if boys equate money with masculinity they feel very inadequate in the company of others with money, overspend that which they have a means of making a statement about their “male assets”.
People, and women in particular, almost always face vulnerable financial times at some point in their lives. Often, this is caused by negative major life events such divorce, widowhood, job loss or extreme economic downturn.