Men and women have at least one thing in common: They both like to spend. But when it comes to how and where they spend their cash—as well as their approach to saving and investing—the decisions can be very gender-specific. This knowledge gap can lead to mistakes and money stress.
"It's a cautionary tale," said Michael Liersch, head of behavioral finance at Bank of America Merrill Lynch. Understanding the motivations for gender-driven financial behavior can be extremely advantageous when planning long-term goals with a partner. "We have evidence that when men and women collaborate and discuss their different perspectives, we can often get people to better places," Liersch said.
So take this quiz to see how much you really know about the way the other gender spends. It could be the first step toward avoiding a financial uncoupling.
—By Barbara Booth
Posted 10 February 2015