Gender and personal finance management

The chapter reviews gender related differences in saving and investment behavior and in debt management, and the major factors that have been identified in previous research as influencing the quality of financial decisions making, such as risk attitudes, financial literacy, confidence in financial knowledge and cognitive style. In addition, we analyze preliminary data from our laboratory studies on men and women’s management ofmultiple debt accounts. Based on our findings, we suggest possible mechanisms that drive gender similarities and differences in behavior.