Money and Gender Norms

Money is an essential part of life and learning how to make and manage it helps people make decisions about what they are doing now and their plans for the future. As parents, it is never too early to start talking with children about money. Money is a tool that helps people trade talents and services for the things they want and need. While everyone should be able to think about their needs and wants and explore ways to earn and manage money, because of how society views gender norms, or perceptions of what people should or should not do based on their gender, sometimes it is not that simple, particularly for girls and women.

For example, certain jobs might be perceived as only for men while others only for women, which can affect what girls and boys decide to do with their spare time, whether to go to school, how long to stay in school, what to study, if and when to start working, and what they might want to be when they grow up. People might believe that boys should grow up to be doctors, engineers, or scientists, while girls should grow up to be nurses or teachers, making it harder for girls to take up careers perceived to be for boys and for boys to take up careers perceived to be for girls.

These gender norms can also influence how families share chores at home. Girls might be expected to do cooking, cleaning, and taking care of younger siblings, while boys are not asked to participate in chores but rather to focus on preparing for a future job. As parents, it’s important to be aware that when household chores and responsibilities are unevenly distributed, such as to girls and women, they can miss out on opportunities to go to school, build skills, and ultimately make money. This can result in having to rely on others for money and having less independence.

In many parts of the world, there are also beliefs or assumptions about how men and women handle finances differently. For example, some people believe men are naturally more skilled at managing money and making decisions than women, or that women are more impulsive about their spending than men. It’s important to remember that these stereotypes are not true, and individuals’ financial decision-making is not determined by their gender.

As parents, you can play a vital role in supporting your children and helping them understand money, and that gender norms can impact a person’s decisions regarding money. Encourage your children to reflect on their feelings and experiences, especially if they feel pressured to conform to these expectations.
It can be helpful for children to be aware of how gender norms can impact their own decisions about school, careers, and making and managing money. It’s also important for them to know that these norms are constantly changing over time. Parents and grandparents can share about what it was like growing up and have a conversation about how it is different from today. Learning about money is an important life skill for all children, regardless of gender, and it is never too early to start talking about it together, exploring needs and wants, and ways that people can make and manage money.

Additionally, if your children show an interest in learning about money management, provide them with appropriate resources and information to enhance their knowledge. With the right financial education, anyone, regardless of their gender, can be skilled at managing money and making wise financial decisions.