Mumsnet really isn't the place to look for financial advice

[ItsFineReally]

Someone said on a thread yesterday that ‘Mumsnet really isn’t the place to come for financial advice’ and it struck a chord with me.

MN is a huge community of women, and yet when it comes to money, investing, or financial confidence, we lag behind. For example:
– Only 24% of women in the UK hold an investment product, vs 39% of men
– Less than half of women feel confident managing money
– Only 10% say they fully understand investing

Most of us are earning, saving, and running households therefore money is central to our lives. So why shouldn’t MN be a space where solid financial conversations happen?

I’m partly venting, but also wondering: should we try to make MN more of a hub for financial discussions, or is it better to accept that and just signpost people to other resources (MSE, Reddit, etc.)? I’d love to know what others think.

I agree OP and I've had some great advice from MN over the years.

I think (generally) there's still the perception that women need to consult 'a man' before making financial decisions but I think women are more savvy.

I've taken too much bro-advice over the years and learned the hard way that men talk confidently about things they know nothing about. Women talk confidently about things they actually know inside out and have experienced.

Money is a massively important part of life. Right up there with health and love.

Mumsnet is a rich source of thoughts/ info and advice from diverse sources. A very useful sounding board.

People should seek more specialised advice from regulated experts before making big decisions around their females.

But Mumsnet ABSOLUTELY has a place as somewhere to ask questions, share experiences (good and bad) and signpost people for further investigation.

@PermanentTemporary Unlike other posters I I find the breadth of comments oddly helpful, because when there’s a post that says ‘pay off your mortgage’ and then someone explains why that may not be the best advice, that’s much more helpful than a bland generalist blog from a financial institution that wants to sell you something.

Great point.

@PrimeTimeNow People should seek more specialised advice from regulated experts before making big decisions around their females.

Assume a typo but made me chuckle. 😀

The issue is, as with other subjects, there will be some good advice, but which are the good ones? Health is the same. Sometimes people want to see themselves expressing an opinion, without knowledge.

I would never use MN for advice on things like benefits. Even on this board, someone will post with some judgemental shite.
I would always recommend the benefits subs on Reddit. They have ex and current DWP staff on there and any judgement is dealt with immediately.