'Men make money, women spend it' - the damaging stereotypes holding women back

I don’t regard myself as militantly feminist, but have found myself getting increasingly incensed after reading a study that found 65 percent of financial articles in women’s magazines define women as “splurgers”.

This is according to new research from app-only bank, Starling Bank – launched to coincide with International Women’s Day on March 8 – which looks at the fact there are serious discrepancies in the way men and women are spoken to about their money.

I have been a personal finance journalist for more than 15 years – and a working mum for nearly two years now – and have always strived to be gender neutral in my writing.

Financial advice should be accessible for all, without bias. After all, a savings account does not give two hoots about gender, and a rip of will rip off people of both genders indiscriminately.

So if I am doing my utmost to be gender neutral in the articles I write, why isn’t everyone else doing the same?

Women are different - but that's no excuse for your tone

When it comes to our finances, there are clearly gender biases in activity, outlook and purchasing patterns – women make more financial decisions in the home and for the family, and they invest differently. That’s fact.

But that doesn’t mean we should separate men and women into “earners” and “spenders” – and into the “empowered” and the “frivolous".

Worryingly, the study (which assessed 300 articles from a mix of outlets aimed at male and female readers) reveals that many publications are doing just that.

The findings show almost two thirds of financial articles define women as excessive spenders – advising them to limit, restrict and take better control of shopping “splurges.”

Yet I know I’m not alone in being the partner in the relationship who is more likely to budget carefully, spend thriftily and shop sparingly.

The research goes on to reveal that to combat this “splurging,” women are advised to “save small sums, earn small amounts, or to depend on financial support".

Women make money too

Articles also strongly imply that women are not legitimate earners, suggesting they could contribute more by spending less money made by men, rather than making their own.

But once again, my hackles rise, as I can safely say I more than pay my way in our relationship – while juggling this with childcare for our two-year-old daughter (which is no mean feat).

There have also been times in our relationship when I’ve been the sole breadwinner.

And don’t get me started on the fact that for those who don’t earn a salary, being a full-time mum is one of the very toughest jobs there is.

Stay-at-home mums make one of the biggest contributions to the household – and to society – that there can possibly be.

Yes all women spend money, but all men too

At the same time, the study found that 71 percent of financial articles encourage women to specifically seek out vouchers, discounts, bargains and coupons to save money.

As a personal finance journalist, I’m all for writing about ways to help people cut back on their spending in order to make it easier to make ends meet.

But I never aim those words of advice solely at a female readership.

(After all, my husband is the first to snap up a deal on wine at Tesco, while my father gets every discount going on his train travel, and hands over a coupon every day to get a reduction on the cost of his daily newspaper).

Why should men not be able to benefit from articles aimed at helping people spend less and save more – doesn’t everyone love a bargain, irrespective of their sex?

Making money somehow seen as male

Meanwhile, the “thrifty-splurger” trope in women’s magazines contrasts starkly to the image of the “savvy financier” portrayed in magazines aimed at men.

A huge 70 percent of articles aimed at male audiences also emphasise that making money is a masculine ideal. They suggest monetary success and financial literacy are essential to enhancing personal status and getting ahead of colleagues or peers.

But if my friends are anything to go by, I certainly wouldn’t rate my male peers as being any more financial literate than my female ones (and in many cases, a lot less).

So how exactly have they earned the glamorous title of being “savvy financiers” while us girls get stuck with the derogatory label of being “splurgers”?

And does “financial success” (whatever that may actually mean) really make our male friends, boyfriends, husbands, fathers and grandfathers any “more of a man” in our eyes? I’d say not.

While we all want to have enough household income to live comfortably, I don’t think I’m alone in saying I would far rather have my husband around a bit more to spend time with me and the family.

That, for me, would be a far more important measure of “success".

#MAKEMONEYEQUAL

While much progress has been made towards gender equality, a whole lot more work needs to be done – and that’s why International Women’s Day is such an important call to action to make further progress.

I agree with Starling Bank that the gender gap has to start with the way that both genders are spoken to about money, as this sexism traps both men and women into negative relationships with their finances.

With all this in mind, I’m putting my weight behind the #MAKEMONEYEQUAL campaign, and echoing calls from Anne Boden, the CEO and founder of Starling Bank, for every business owner, every news editor, every podcast presenter, every headline writer and copy checker to change the way we talk to both men and women about money.

We need to challenge perceptions, and we need to start talking about money in the same way to everyone.