I was recently reading a CNN Money article on the financial outlook of men versus women. The author found that women tend to be more optimistic than men about their financial future. It got me thinking as to what other differences exist between men and women when it comes to there finances.

Here are a few examples of when it would pay for men to think more like women.

Women are better planners.

Women get a bad reputation about spending money. They may be accused of shopping and spending lots of money but study after study has shown that women are better with budgeting than men are. Men live from moment to moment and are more likely to fritter away money on cool new purchases. Women tend to plan for their futures more than men.

Women are more conservative investors.

Men are more confident and self assured when it comes to investing. This overconfidence often leads them to take unnecessary risks with their money. Men tend to be super aggressive and more concerned with the return on investment than the safety of the investment. Women are the exact opposite. Their first concern is the preservation of capital. Any return on the investment is seen as a bonus. 

Women use less debt.

Women actually rely less on credit card debt to finance purchase than their male counterparts. Men are more likely to use leverage and debt to finance the items that they want. Debt is not a big issue to men. Men give less thought to using debt to finance purchases that they really want. One study noted that men are 8% more likely to pay a credit card bill late than women are.

Women splurge less.

 Women spend money in smaller increments over a longer period of time. Men spend money in large amounts. A woman may go buy shoes, clothing, or household items for the family. All of these are smaller ticket items. Men will spend money on fancy cars, televisions, and big ticket electronic items. Men like objects that are status symbols and feed into their egos.

While these habits are not true for all men and women; it does apply to a lot of them. Men could improve their financial lives by applying some of the attitudes that women have towards money to their own lives.