In March, when International Women’s Day is celebrated, the importance of financial education as a fundamental tool to empower women to make more assertive choices in their lives is highlighted. This relevance becomes even more evident in light of statistics showing how financial dependency can trap women in abusive relationships.

Thiago Martello, founder of Martello EF—a company that gained investors on Shark Tank Brazil with its exclusive methodology—points out that many women, particularly from older generations, often believe they lack the skills to manage their finances.

“Fortunately, this reality is changing. However, it’s still common to encounter couples where women have little knowledge about money and are unaware of the family’s financial movements,” explains the financial planning expert.

Martello emphasizes that when women receive financial education, they can become more independent in making confident decisions, gaining autonomy over their finances and contributing to their families’ financial well-being.

For Martello, it is essential to align the minimum necessary financial knowledge between men and women during financial mentoring. This ensures that both have an active voice and participate equally in the learning process, fostering family growth as a whole.

According to Martello, financial education teaches essential skills like budgeting, saving, investing, and retirement planning—areas traditionally seen as male responsibilities.

Martello highlights that financial education for women provides freedom of choice, enabling them to avoid staying in unwanted relationships out of fear of financial instability. It also equips them with skills to generate additional income or navigate financial crises with greater resilience.

Factors Contributing to Women’s Aversion to Finances

Gender Stereotypes: The cultural association of finance with masculinity creates barriers for women who wish to engage in financial matters, perpetuating the idea that this domain is predominantly male.

Lack of Financial Education: Inadequate exposure to financial education during women’s formative years often results in a lack of confidence in making financial decisions. Historically, women were shielded from this knowledge, while men were given the role of financial provider and manager.

Lack of Role Models: The absence of examples of financially literate, successful women limits women’s financial aspirations and hampers their identification with this field, perpetuating the stigma that finance is a male territory.

There is no evidence of a biological predisposition for men to handle finances better than women. Behavioral studies underscore that the stereotype of women being less skilled with numbers or more cautious is a cultural construct, not an innate characteristic.

Psychologist Gilla Bastos highlights that many choices made by women are directly linked to their financial autonomy. Economist Paula Sauer adds that cultural and familial inheritance plays a crucial role in this process. Women raised in environments where financial education was valued and encouraged tend to handle their finances more effectively.

Paula explains that career and financial planning are relatively recent aspects for women, who began entering the workforce significantly only in the 1960s. However, they face challenges such as guilt over leaving children and pressure to balance multiple responsibilities—pressures that men typically do not face to the same extent.

She also points to gender disparity in economics, noting that only three women have received the Nobel Prize in Economics since its inception in 1968. This underscores the long road ahead to achieving gender equality, particularly in terms of pay and professional recognition.

Gilla Bastos stresses the importance of keeping dreams alive, reminding us that women’s existence goes beyond domestic and maternal responsibilities. She emphasizes that, despite progress, vigilance is crucial in facing the challenges women continue to encounter.

In contrast, Sueli observes a small shift, particularly among artists and digital influencers like Angélica and Cláudia Raia, who address issues faced by women over 50, such as menopause. She believes this educational discourse can help other women see that it is possible to age with dignity and remain active.

Regarding public policies and private sector initiatives, Sueli highlights the lack of effective actions in Brazil. She stresses that the fight for gender equality and women’s financial autonomy must be driven by education and continuous societal engagement.

The Fear of Managing Personal Finances

For many people, the mere thought of managing their finances can trigger anxiety and fear. This financial phobia can manifest in various ways, from avoiding bank statements to evading money-related conversations with friends and family. Recognizing and addressing this fear is crucial for achieving financial freedom.

The fear of dealing with finances often stems from past negative experiences, a lack of proper financial education, and fear of the unknown. Managing money may seem overwhelming and stressful, especially for those who have faced financial difficulties, such as debt or economic crises.

This phobia can have serious consequences on a person’s financial and emotional well-being. Avoiding financial management can lead to late bill payments, debt accumulation, and challenges in achieving long-term financial goals. Additionally, money-related anxiety can negatively affect mental health, causing stress and worry.

Fortunately, there are strategies to overcome the fear of managing personal finances. Educating oneself about personal finance topics like budgeting and investing is essential. This could involve reading books, watching online educational videos, or taking financial education courses. Moreover, seeking professional guidance from a financial planner can help create a personalized financial plan.

The Importance of Financial Autonomy

Mastering personal finances not only ensures financial security but also fosters autonomy and empowerment. By taking control of your finances, you become more independent and capable of making decisions aligned with your life goals.

Facing the fear of managing personal finances may be challenging, but it is essential for achieving financial stability and peace of mind. Through education, professional guidance, and a willingness to confront fears, one can take control of their finances and work towards a healthier, more prosperous financial future.