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Study: Girls have a More Practical Attitude towards Money than Boys
There is a clear difference between girls’ and boys’ view on what money is used for. Girls have a more practical approach to money, whereas boys often regard money as a way to become rich. This is revealed by a study mapping the views of 6- to 12-year-olds on money and the circulation of money as well as the way in which children spend their money. The study was commissioned by Mint of Finland Ltd.
According to the study, children have a clear idea of how we get money to spend: 66% of children believe money comes from work, and 50% think it comes from the bank or the cash machine.
“From work of course, but from the bank as well. Or if you buy food you get some change,” a nine-year-old boy replied. Older schoolchildren emphasised work as a source of money. Fifteen percent of children thought money comes from betting.
Most children, four out of five, believed that mints use machines to make money. Approx. 10% believed there is already so much money that no more needs to be made.
Is Money Meant for Making Money?
Girls think money is used for living: nine out of ten girls answered that money is meant for buying things like food and clothes. In contrast, one-third of boys regarded money as a means of making money.
“Girls have a more practical attitude towards money than boys. In addition, almost 50% of girls considered charity one use for money. Less than one-third of boys chose this option,” says Tina Wessman, CEO of research company Qualitems Ltd. However, both girls and boys considered saving equally important.
Sweets, Treats and Toys help Recirculate Children’s Coins
Most schoolchildren (95%) have money of their own to spend. Money is mainly used to buy sweets and treats (82%), toys and games (75%), collector’s items (36%) and for outings (34%).
Boys often buy toys and games (80% vs. 69%), whereas girls go out and enjoy themselves (42% vs. 29%). “Age naturally affects what money is spent on. Older children clearly emphasise gifts, clothes and hobbies,” Wessman says.
On 20 October 2010, Mint of Finland Ltd. and the Finnish Science Centre Heureka opened the Voyage of the Coin exposition on the manufacture of money. The exposition was opened as part of Heureka’s main exposition in commemoration of Mint of Finland’s 150th anniversary.
Additional information:
Henna Karjalainen
Communications and Marketing Manager
Mint of Finland Ltd
Tel. 050 5759 197
henna.karjalainen@mint.fi
Tina Wessman
CEO
Qualitems Ltd.
Tel. 040 732 6523
tina.wessman@qualitems.fi
The Children’s Views on Money study was conducted by Qualitems Ltd. at the request of Mint of Finland. The first stage of the study conducted in September and October 2010 consisted of in-depth interviews (used as the source for the press release’s quotations). The second stage of the study consisted of a national online study (n=239). Children were interviewed and they took online questionnaires with the consent of their parents.
