Why do women lack personal finance confidence?

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By Devin Loring

Studies show that women are less confident than men in some areas of planning when it comes to managing money.

In the case of life transitions, such as marriage, divorce or a death in the family, money can become the thing that causes confusion and anxiety.

A recent study by Prudential reported only 20 percent of women feel “very well prepared” to make smart financial decisions. Another Prudential study reported women were twice as likely as men to describe themselves as “financial beginners.”

“It’s less than it was years ago, but so many times women, when they’re sitting down with their husband and their financial advisers, they say, ‘Oh, no. he handles that,’” said Victoria Tomaro, of Tomaro Financial Group in Wall.

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