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The Undeniable Difference Between Spending Habits of Men and Women

By  +Follow June 28, 2013 8:53AM
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SpendWhen is comes to the differences between men and women the list is endless. From social habits to their spending habits, the list of cliché differences could go on and on. Though American spending habits have bridged and adapted over time, men and women tend to stick to the same major gender assigned areas of spending due to the social construct that has been deeply ingrained. In a recent study done by eBates and TNS Global it was found that on average around 33 percent of people in the Unites States lie to their significant other about their spending habits. This shouldn’t come as that big of a surprise when the choices in where men and women spend their money are very different. 

In the same study it was found that on average across America, women spend women spend more money on clothes then men do just as men spend more money on food then women do. Men in general men are pretty uniform in their top three spending choices. Their spending habits tend to be allocated toward food, electronic and entertainment purchases respectively. These findings are not surprising to most Americans. Single men on average spend around twice as much money annually than a single woman does on alcohol, thus perpetuating the idea that gentlemen always by a lady their first drink.

Men also spend about $100 more on nightlife a year as well as double the amount of money on Valentines Day. On the flip side, men in general are more likely then women to save for their retirement. On average they have around 72 percent higher balances in their IRS accounts as well as having around 28.8% more money in their 401K accounts then the average women. 

Women on the other hand shape their spending habits around their stage in life. Younger, unattached females on average spend their money on shopping, beauty, health and fitness, love/online dating and home furnishings. Thought a women’s love for shopping stays with her throughout her whole life, as priorities shift so does her spending habits.

On average women are more likely to give more money to charity in every income bracket as well as being better at paying back loans. This in part is due to the moral obligations many women feel pressured by as they get older and the fact that on average they take more of the heat and blame for their spending habits. Women in general spend around 5 times more money on personal care and services, but at they get older their focus shifts towards making sure that their choices reflect what is best for their children and family. 

 

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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By  +Follow June 28, 2013 8:53AM
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