It is a common misconception – in fact, a stereotype – that women spend more money than men, or that they spend more frivolously. It may be that women are more prone to making impulse buys, but that doesn’t translate to spending more money or spending money foolishly.

It is a fact that men spend more money because they make more money. It’s that simple. It’s also why men can afford to buy women presents and spend more money on presents for women than women do for men, for the same reason.

While men are more likely to plan their purchases, they are also more likely to make a foolish, albeit planned purchase, such as a new and expensive tool they don’t necessarily need, or taking out a car loan for a second vehicle that may not be a matter of life and death. Men would argue that women buy too many clothes or have too many pairs of shoes in the vein of Imelda Marcos, and this is true for some, but by no means all. For example, I am a woman who owns two or three pairs of shoes. My husband, on the other hand, has at least seven, and just bought a new pair for a few hundred because it was some luxury brand that he’s mistakenly loyal to. He also has a lot more clothes than I do – maybe up to five times more – and I’m always criticized for “that bag lady crap” that may have been bought from a thrift shop, but I feel very comfortable in it!

We neither spend more money than men nor do we spend more erratically. In fact, studies have shown women are more rational spenders. Because women still run day to day things in households more often than not, we are better able to judge what needs buying and what can wait. This extends to not only food, but also furniture, repairs, and appliances. We won’t buy a new fridge just because the old one is too small – it still works, doesn’t it? We won’t buy a new stove because the old one seems outdated without any smart functionality. Same goes for freezers. If we want to change the interior, we come up with our own designs. We won’t throw our money at a professional designer who charges oodles. There are exceptions, yes, but they confirm the rule rather than serve to reject it.