6 Financial Blunders Men Usually Make


Bangalore: Men might be worldly wise but are they money wise too? History is evident that rash financial decisions of men have cost them a fortune. So, here is a list of 6 money mistakes men usually make, as given by Anubhav Kapoor of MensXP.Com –

1. Investing with Inadequate Knowledge

When it comes to investing, men do not prefer taking advice, especially from women. It has been proven time and again that men tend to be a tad bit rash with investing, when compared to women. As men like to find easier and quicker ways of making big money, they tend to compromise security of their investments in the process. Then there is the issue of ego and how it goes hand-in-hand with investments made by men. Moreover, men tend to be over-confident about their investment decisions and so might not heed any related advice from other people. This is a major mistake made by men as when it comes to markets; no amount of surety can spell out 100 percent safe investments.

2. Taking Savings Lightly

Let’s face it – men and savings do not get along very well. The very thought of keeping money sitting idly makes them nauseated. To men, money belongs out and about and should be invested in some form or the other. So, we see men as big spenders in the stock markets and also their beloved gadgets. To men, saving money is not an appealing activity as it seems passive. As men are synonymous with activeness, saving money does not hold well in their vocabulary. This is another major mistake men make as saving for the future is a form of investment too, just not as dynamic as they want them to be.