5 money mistakes millennial women make more than men

mary kulundu

June 14, 2017 12:18 PM

Do you make any of these mistakes?

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Some people are able to handle money well while others are not so good at handling their money.

From retail therapy sessions to feeling guilty, these are some of the money mistakes that women face on a daily.

Plive.co.ke compiled a list of some money mistakes that women are more prone to make as compared to men.

Feeling guilty

Women are more inclined to feel guilty about someone’s financial situation and may go overboard to make sure that the person is okay and this sometimes comes to bite them in the behind.

Saving others

It is human to want to help others when they are in need and women are more likely to be empathetic towards someone in a tough financial situation as compared to men.

Sometimes, however, women’s empathetic ways can lead them to want to overcompensate on helping people and they end up unable to help themselves.

Not advocating for yourself

Asking someone close to you for money that you lent them can be an extremely awkward conversation to have especially when you really need it.

With most women having a difficult time saying no, they might decide not to ask for the money back or may take a while to ask for it back even when they are in dire need of it.

Retail therapy

Retail therapy is a common and sometimes an unwise thing to do. With thrift shopping being one of the cheapest and more popular sources of women getting their outfits in Nairobi, it is very easy to end up spending money on things that they do not necessarily need but just because they liked it.

Letting other people handle their finances

This is not a mistake they make per se, hence the reason why financial experts exist. It is however, advisable to at least know some basics such as filing your tax returns.