The Femininity–Money Incongruity Hypothesis

Abstract

Women are often stereotyped as poorly equipped to deal with money matters, compared to men, yet very little research has examined the underpinnings and consequences of such gender stereotypes. Drawing on descriptive and prescriptive elements of women's social roles, we empirically examined the gendered nature of money stereotypes. Specifically in the current work, we introduced and investigated the femininity-money incongruity hypothesis, which suggests that when the concepts of femininity and money are both cognitively activated, money will become a liability for women, causing decrements in cognitive functioning. We first probed the role of gender identity and benevolent sexism beliefs in women's endorsement of moneygender stereotypes. In two subsequent experiments, we tested the hypothesis that simultaneously activating money and femininity would lead to decrements in cognitive functioning. Converging results across studies suggest that money is incompatible with the stereotypic female gender identity, and this incongruity has detrimental cognitive costs for women as they navigate gender roles. Implications of societal challenges imposed on women by gender stereotypes regarding money matters at work and in relationship contexts and proposed interventions are discussed.

Is psychology of money a gendered affair? A scoping review and research agenda

“…Moreover, money attitudes have a greater impact on women's financial capability and management skills than men's (Falahati & Sabri, 2015; Sabri et al, 2017). Past research also suggests that money is sometimes perceived as incongruent with the idea of femininity, having a detrimental effect on cognitive performance (Allen & Gervais, 2017). Nevertheless, it is worth pointing out that a few exceptions also exist in this case: Bonsu (2008), Lim et al (2003) and Rimple (2020) found a higher tendency to feel anxiety and a lower sense of confidence in relation to money, respectively, in Ghanaian, Singaporean, and Indian males than in their female counterparts.…”

“…In the field of gender differences in money‐related contexts, insights on how gender stereotypes affect the gender pay gap, leadership positions in the financial industry, financial literacy, and activities in high finance have already been investigated (e.g., Capelle‐Blancard & Reberioux, 2021; Tinghög et al, 2021; Williams et al, 2010). In particular, Allen and Gervais (2017) have analysed how gender stereotypes affect women, suggesting that money is incompatible with the stereotypic female gender identity, with detrimental cognitive costs for women as they navigate gender roles. Nevertheless, the specific contents of stereotypes related to gender and money have not been explored yet.…”

“…as a passport to acquire freedom and autonomy Fenton-O'Creevy andFurnham (2020);Furnham et al (2012);Tang and Gilbert (1995) A female view on money: An ambivalent perspective Women are more anxious while dealing with moneyBandelj et al (2021);Furnham and Grover (2020);Furtner et al (2021);Hayhoe et al (2012);Oleson (2004);Pereira and Coelho (2019);;Simanjuntak (2016) Women have a more negative or ambivalent attitude toward moneyAllen and Gervais (2017);Falahati and Paim (2012);Newcomb and Rabow (1999);;;Tomek et al (2013);Wernimont and Fitzpatrick (1972) Women are more likely to associate money with securityFenton-O'Creevy and Furnham (2021); Furnham (1984); Furnham and Murphy (2019); Rimple (2020); Tatarko and Schmidt (2012) Women tend to be more attentive to budget and to plan for the future Bonsu (2008); Hanashiro et al (2004); Lim et al (2003); Rimple (2020); Tang (1992); Tang et al (2002); Wilhelm et al (1993) Women tend to view money as a symbol of love and to spend money for others Fenton-O'Creevy and Furnham (2020); Furnham and Grover (2020); Furnham and Horne (2021) Women are more likely to cede to temptation Fenton-O'Creevy and Furnham (2020); Lemrová et al (2014); Tang and Sutarso (2013) Women tend to view money as a symbol of freedom Furnham and Horne (2021); Furnham and Murphy (2019) Women are higher on the dimension of powerprestige Shih and Ke (2014); Wilhelm et al (1993) Women are more obsessed with money Tang et al (2006)No differences in money attitudesGeneral absence of gender differences in money attitudesDavison (2014);Fatoki (2015) No differences in experiencing money as a source of anxietyBonsu (2008);Do gan et al (2018);;;Shih and Ke (2014) No differences in experiencing money as a symbol of power;Do gan et al (2018);Furnham (1984);Furnham and Murphy (2019);;;;Tang (1992) No differences in feeling doubtful and inadequate when dealing with money;Furnham (1984);Tatarko and Schmidt (2012); Wilhelm et al…”

A systematic review of the ambivalent sexism literature: Hostile sexism protects men’s power; benevolent sexism guards traditional gender roles.

“…The remainder of the articles in this subdomain reported miscellaneous findings linking ambivalent sexism to various stereotype-related outcomes (J. Allen & Gervais, 2017;Carter et al, 2006;Meagher, 2017;Zell et al, 2016). This document is copyrighted by the American Psychological Association or one of its allied publishers.…”