Money plays a central role in everyone’s life, but how men and women manage finances varies significantly. A systematic literature review of 27 research papers from 2014 to 2024 reveals that men are generally more financially literate and risk-tolerant than women, making them more likely to invest and explore financial tools.

On the other hand, women tend to be more conservative, price-sensitive, and emotionally driven in their spending, often prioritizing essentials like food and healthcare.

These behavioral gaps are shaped by early life socialization, education, and evolving gender roles. Notably, women are more vulnerable to financial misconduct, but increased financial literacy can reduce this risk.

The study emphasizes the need for gender-sensitive financial education to promote equal financial decision-making and align with SDG goals on gender equality and reduced inequality. Future research should explore how digital financial tools are reshaping gendered spending behavior.