Women Suffer From ‘Math Anxiety

ARTICLE

Women suffer from ‘math anxiety’ more than men do — here’s how to reverse it

This teacher-turned-financial adviser on the different ways men and women approach math and life By Alessandra Malito, MarketWatch (October 24, 2019)

Many Americans suffer from “math anxiety,” which inhibits their ability to solve problems — a potential issue when it’s time to balance a checkbook or save for retirement.

Math anxiety may start in the classroom during childhood but it has a way of following students throughout their lives, said Maddie Parker, a financial adviser at Parker Financial Group in Overland Park, Kan., who started her career as a high school math teacher before switching to financial planning. She has seen people postpone their financial plans and refrain from saving for retirement because they don’t want to deal with the possibly complicated equations and complex investing topics.

A fear of math can be debilitating — and not just because it could result in poor math grades. Many students, especially girls, may avoid careers that include a heavy amount of math, especially those in STEM (Science, Technology, Engineering and Math) fields. https://www.marketwatch.com/story/the-gender-gap-starts-in-ninthgrade-2018-08-20 Girls made up just 30% of the top 5,000 ninth-graders in the American Mathematics Competitions, according to research distributed by the National Bureau of Economic Research in 2017. Just 18% of the top 500 ninth-graders were girls, and only 8% of the top 50. That gender gap worsens as they age — by senior year, only 22% of the top 5,000 are girls (compared with the 30% in ninth grade), followed by just 12% of the top 500.

Parker, 30, taught Algebra II and geometry to high-school students before switching to financial planning and working with her 76-year-old father, who has his own firm. She also became a Certified Financial Planner. “I have a math background and the CFP puts me in a good position to do financial planning in a way that educates people about the planning and why,” she said. Their age difference also helps them work with clients of all ages and provide their own perspectives, she added.

Parker spoke with MarketWatch about her education background, why people are so worried about math and how to mesh the two:

MarketWatch: How exactly would you describe math anxiety? Maddie Parker: A lot of people would say “I have that” and to a degree, a lot of people do, but it’s more than feeling like you don’t do well on exams. Kids who have math anxiety almost always have a physical inability to respond to being tested or asked to perform on math-related tasks. It is just built up over the years of different experiences, and it stops them from being able to learn any further.

MW: Is it something adults face?Parker: It translates from kids to adulthood. When you get out of school, you’re less exposed or have less experience being tested so the anxiety may seem like it’s gone away but any time math or that skill is required, the anxiety comes right back. I think it has been perpetuated as a weird acceptance in our country, that it’s OK to be bad at math. Like, “oh, math is hard and it’s OK not to get it.” It definitely follows into adulthood and affects people dealing with finances, because they have to do math and they don’t know how to do it, and they’re stressed or embarrassed to ask for help.

MW: How can math anxiety impact personal finances? Parker: In high school, you’re not required to take personal finance and the math you’re doing is unrelated to what you do in real life. And that real life math in your brain is still tied to calculus so you think, “I couldn’t do that at 16, I probably can’t handle finances now.” But it is different math. It’s not to say it’s simple, but it’s