Why Women Were Never Bad With Money
For centuries, women have been labeled “bad with money.” This essay flips the narrative—using history, facts, and a little sarcasm—to show how patriarchy and capitalism worked overtime to keep women financially powerless, then blamed them for it.
SOCIETY
Ananya Rao
1/14/20263 min read
The Biggest Lie Ever Told About Women and Money
Somewhere along the way, society decided women are naturally bad with money.
Too emotional.
Too impulsive.
Too dependent.
Too “shopaholic.”
Meanwhile, men blew fortunes on wars, stock crashes, crypto scams, and midlife crises—and somehow still walked away with the title of “financial decision-makers.”
So let’s get this straight:
Women didn’t fail at money.
Money systems failed women—by design.
Women Managed Resources Long Before They Managed “Money”
Before banks, hedge funds, and Excel spreadsheets, women ran entire economies—just not the kind capitalism respects.
They managed food, land, livestock, household labor, barter systems, and survival strategies. Anthropologists agree: early economies were communal, and women played a central role in resource allocation.
Historian Silvia Federici writes that women were “the first economists,” managing production and consumption at the community level long before currency ruled everything.
But here’s the catch:
When money became power, women were pushed out.
Property Laws: The Original Financial Red Flag
For most of history, women couldn’t own property. In many countries, a woman’s wealth automatically became her husband’s upon marriage.
In England, the doctrine of coverture literally erased a married woman’s legal identity. She couldn’t sign contracts, own assets, or control income.
So yes—women weren’t “investing.”
They weren’t allowed to.
As philosopher Mary Wollstonecraft famously argued in the 18th century:
“I do not wish women to have power over men; but over themselves.”
That was radical. And threatening.
Capitalism Loved Women’s Labor — Just Not Paying for It
Capitalism runs on unpaid labor. Guess who provided most of it?
Childcare.
Housework.
Elder care.
Emotional labor.
Economist Marilyn Waring famously pointed out that if unpaid domestic labor were counted, it would be one of the largest contributors to GDP globally.
Yet women were told:
“You don’t work.”
“You don’t earn.”
“You don’t understand money.”
Convenient, right?
The Financial Industry Was Built Without Women in Mind
Banks didn’t even allow women to open accounts without a male co-signer until the 20th century in many countries. In the U.S., it took until 1974—yes, 1974—for women to legally access credit independently.
That means women entered modern finance decades late and then were mocked for being “behind.”
That’s like locking someone out of a gym for years and then laughing when they can’t lift the weights.
Emotional Spending? Or Survival Spending?
Women are often criticized for “emotional spending.”
But studies show women spend more on essentials: healthcare, education, family needs. Men, on the other hand, statistically take riskier financial bets—trading, speculation, and high-risk investments.
Yet guess whose spending is labeled irresponsible?
Author and activist Gloria Steinem once said:
“A woman without a man is like a fish without a bicycle.”
Turns out, a woman without financial autonomy was like a runner with one shoe—expected to compete anyway.
The Shame Narrative Keeps Women Quiet
Here’s the real trick: shame.
Women are taught to feel embarrassed about not knowing money. To stay quiet. To ask politely. To defer decisions.
And when women do take control?
They’re called aggressive. Greedy. Unfeminine.
The system doesn’t just exclude—it gaslights.
Modern-Day Proof the Narrative Is Cracking
Today, when barriers fall, women don’t just catch up—they outperform.
Women investors often generate higher long-term returns than men.
Women-led businesses reinvest more into communities.
Countries with higher female financial inclusion show stronger economic stability.
So no, women aren’t bad with money.
They’re bad for systems built on exclusion.
So What’s the Real Problem?
It was never competence.
It was access.
It was control.
It was power.
Calling women “bad with money” is like blaming someone for drowning while holding their head underwater.
The myth survives because it benefits those who hold the keys.
The Femonomic Truth
Women don’t need fixing.
Systems do.
And the moment women stop apologizing for learning, earning, and controlling resources—the narrative collapses.
Which is probably why it was so carefully constructed in the first place.