Sunday, 2 February 2014

Bodo Schaefer and Carola Ferstl "Money is beneficial to women"*

Bodo Schaefer says that there is a big difference in how men and women respond to the theme "money." Prior to writing his book Bodo Schaefer conducted a survey in which more than 1,000 women participated. The results surprised him.

Apparently, women tend to shift all responsibility for important matters. They rely on their partners. Almost no woman thinks seriously about her retirement. Most of them do not even know what retirement to expect. In fact, 80 % do not have a clue as to what will be their pension. And it seems they do not care . Most women start thinking about money only when their life situation changes , for example, after a divorce. Bodo Schaefer does not think that such extreme measures are needed to bring order into a woman's financial situation.

Most women accumulate money for large purchases, but not for creating material prosperity or they save for children. More than 50% of all their money are on deposits. That is how women struggle against poverty. Hardly any woman dares to buy shares or invest into some funds. Women are much more cautious than men. They invest more conservatively. This means that a good income avoids women.

There is a good side - women are more economical than men, however the bad side is that women do not save for the future well-being , rather, they have these very different motives. They set aside money for a "rainy day", save for large purchases (furniture, car) , for a holiday home and for their children. They do not think about themselves and the future richness.This is due to the fact that many women are more family oriented. They attach great importance to education and childcare, as well as to a cozy home. Men, on the contrary, focus on status. This leads to the fact that women often spend money on new acquisitions that are impaired during the year and are out of fashion.

And what is the result? Most women have little money.

The book was issued in 2002, i.e. pre-crisis time and is more focused on the German market. I would not follow his advice on how to get rich literally. But I would advise you to read the book. There are moments that make you think , I found a lot of useful things. Below is one of my discoveries .

When Bodo Schaefer was 26 he went bankrupt. His instructor asked him then , "Mr. Schaefer, what is your plan in dealings with the money? " . But Bodo Schaefer knew no plan. He lived only in a hope that his problems will be solved by themselves when he starts to get more again. And so his answer sounded like that : "There is no plan. I never thought seriously about the money ." "You're wrong ," - said his instructor , - " You have a plan. Everyone acts unconsciously according to some plan. You just live based on the plan of poverty."

My discovery is that I also, in fact, live on the plan of poverty. Take this blog for example - it is completely non-profitable, moreover it is not in my native language. And what do I actually hope for? How to get rich, ah? I will leave you for a while and will let myself be mesmerized by Google shares' price. Maybe I will find the answer...:)

* Translation of the title from the German is mine

More about how beauty is beneficial to women is on my blog Notes about styling

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