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Speaker 1: Right now, it is official? Can we women are better

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Speaker 1: with money than men? The Financial Services Council ask questions

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Speaker 1: on financial literacy and found sixty six percent of women

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Speaker 1: answered the questions correctly, blokes fifty seven percent. Despite this,

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Speaker 1: they found that women are less confident in their financial

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Speaker 1: decision making. Shelley Pelman is the financial advisor and enable me.

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Speaker 1: She's with me.

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Speaker 2: Hi, Shelley, Hi, Ryan, thanks for having me.

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Speaker 1: Good to have you here. So basically, would that not

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Speaker 1: mean that women would be better off financially than men?

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Speaker 2: You would think so that literacy doesn't necessarily translate into confidence.

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Speaker 1: So what action? So what's the confidence issue?

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Speaker 2: Yeah? I think the confidence issue I think speaks to

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Speaker 2: a women's innate need for security, and I think this

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Speaker 2: actually stems from fear. And what it does is it

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Speaker 2: leads to less risk taking. And we see that across

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Speaker 2: the board, not just in terms of financial kind of sex.

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Speaker 2: We see that in terms of the workforce and other

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Speaker 2: risks that they might take. And not taking a risk

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Speaker 2: can lead to obviously not getting that reward from taking

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Speaker 2: that risk. So self doubt, you know, no self doubt.

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Speaker 1: It's interesting because I was thinking about this today. You know,

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Speaker 1: men take risks for good and bad. Right, we take

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Speaker 1: risk financially, but then we take dumb risks on the

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Speaker 1: roads and we end up wrapping ourselves around a lamp post.

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Speaker 1: You know, it's almost built into us that risk taking behavior,

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Speaker 1: isn't it.

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Speaker 2: It is? And women just don't send to back themselves

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Speaker 2: as much as men, you know, And I think with

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Speaker 2: this literacy piece, they're they're feeling that need to arm

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Speaker 2: themselves with information upstill themselves in that financial space because

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Speaker 2: you know, they want to know how they can play

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Speaker 2: the financial game here in New Zealand. But hey, there's

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Speaker 2: still that missing link of actually taking action and that confidence.

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Speaker 1: I wonder if you if you subtract a little bit

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Speaker 1: of knowledge and add a little bit of you know,

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Speaker 1: does does one sort of compromise the other? If men

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Speaker 1: were smarter with you know, with their financial literacy, would

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Speaker 1: they be as as aggressive and outgoing and confident?

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Speaker 2: Do you know that sometimes people arm themselves with too

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Speaker 2: much information And we see this here it enablement, you know,

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Speaker 2: we see that analysis paralysis thing sometimes coming in. You know,

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Speaker 2: they arm themselves with all this information, but they're so

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Speaker 2: overwhelmed by said information that they don't actually do anything.

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Speaker 1: Yeah, yeah, good point, Shelley. Thank you for that interesting discussion.

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Speaker 1: Shelley Pullman the financial advisor to enable.

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Speaker 2: Me for more from Heather Duplessy Allen Drive.

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