The Impact of Money on Society and Gender Differences in Financial Management
Classified in Economy
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MONEY
First of all, having money can show your status in our society: having a good car, wealthy possessions, living in an upper-class neighborhood and so on...can be representative of real happiness. Nevertheless, in our society we can see how families can't make ends meet due to their mortgage and the cost of living in general because we are having endless mortgages, and the standard of living has risen a lot over the last years.
In relation to what I would do if I become a millionaire, I think I would buy a house or a powerful car but not a sports car because it is a little uncomfortable since only two people can fit in it and you are with the roof on your head. So weighing up the pros and cons, I think the best option would be to buy a house but not a big house and a good car but not a sports car. Moreover, I definitely would choose giving away some money to medical research or for a program against famine in Africa.
Lack of money is another important issue because of the crisis. According to some studies in our country, due to the financial crisis and the bad economic situation, unemployment, social exclusion problems, and poverty, crime like shoplifting, burglaries, and dealing drugs are being increased more and more than ever before.
In relation to the differences between men and women on handling money, I think men and women are in the same boat when it comes to managing debt and spending responsibly, but there are some differences in the ways men and women handle their finances. According to one study I read, men are generally more practical and pragmatic, while women tend to be more impulsive making unnecessary purchases. However, I think the way to managing money it's not a gender issue.
Another important issue according to some studies is that men earned on average about 30% more than women, and in my opinion, it is an issue that our society would have to improve because it's not fair.
To sum up, money may not be the most important thing in life, but it sure does help you to be happier!