There is truth in the metaphor that ‘men are from Mars and women are from Venus’ according to research conducted by UOB Thailand into the wealth management practices of the sexes.
When it comes to money matters, UOB (Thai)’s research found that men see money as theirs to spend on themselves, whereas women use it to pay for family and household expenses. And this difference can be the cause of discord when it comes to managing money as a couple.
To help individuals and couples understand how gender can influence their financial decisions, UOB put together a practical wealth management guide titled His & Her Wallet. The guide is based on in-depth research the Bank conducted Thais on their attitudes and experiences with saving, spending and managing their money. UOB (Thai) then collaborated with famous lifestyle and finance writer Ms. Kanchana Hongthong to produce the book.
Ms. Kanchana Hongthong said the His & Her Wallet was an important tool to understanding one’s self and for navigating the financial challenges within a relationship.
“I have received so many questions about financial management for couples,” Ms.Kanchana said. “Men are generally the more easy-going of the species. A man is ready to take risks and expects high returns in the short term, while women look for long-term stability rather than quick returns. Couples who understand these fundamental differences are better equipped to manage as a team through open and honest lines of communication.”
Mr. Yuttachai Teyarachakul, Executive Director of Personal Financial Services, UOB (Thai) said the Bank encouraged all people, regardless of gender, to set clear goals as part of their financial planning.
“The His & Her Wallet inspires everyone to start thinking about wealth management sooner rather than later and to cultivate financial discipline in saving for the short and long term. Importantly, the book also covers topics such as how to invest in products such as long-term funds, retirement mutual funds and life insurance products to achieve short- and long-term financial goals.”
Ms. Busba Virochpoka, Executive Director of Brand Performance and Corporate Communications, UOB (Thai), said, “When it comes to gender, we found that men and women think differently and have different communication styles and emotional needs. These are reflected in their spending and saving habits. UOB hopes to offer advice that can help to people build smart financial skills and achieve their goals in the long term.”
The His & Her Wallet is a complimentary New Year gift for UOB customers who purchase THB 100,000 or more of UOB’s long term funds, retirement mutual funds or life insurance products. It is available from now until 31 January 2014 or until stocks last. For more information, please contact the UOB Call Centre at 0-2285-1555.
November 19, 2013
For More information, please contact
Brand Performance & Corporate Communications,
Overseas Bank (Thai) Pcl.
Utanee Sulyabhongse Tel. 0-2343-4963
or Nion Masrungrong Tel. 0-2343-4972