Who spends more – men or women? Quick Loans Express explores whether its the women or the men that empty their pockets and shop frequently.
On average single men spent double on the alcohol compared to single women.
Men and women can at times be very different, one example of this is the way they spend money. While most of us try our best to budget and save our hard earned cash, most of us don’t mind splurging every once in a while; even if its things that we may not need at all. So is it possible to break these habits? The key to breaking our unnecessary spending habits is to recognise what our weaknesses are. This makes you one step closer to breaking these bad habits.
So what do people spend their money on? Quick Loans Express, a payday loans direct lender , explores peoples most common ways to spend extra cash and who spends more men or women?
Who spends more?
The single life is the fun life! On average single men spent double on the alcohol compared to single women. The men were more likely to spend more on alcohol if the women were not around. On the other hand, single women spend a lot more on personal care and services like make-up, haircuts, gym memberships etc., than men do.
Retail therapy? What cheers us up?
Retail therapy is very common and perhaps all of us like spending a bit of additional cash when we feel down. So what do people buy to raise their spirits?
|It’s not hard to guess how women cheer themselves up. The majority of women will buy clothing, shoes and food to make themselves feel better. Other women may buy magazines, books and accessories when they are feeling down. Over 50% of women will buy clothes when they feel depressed.||Retail therapy for the guys, has a little more variety when it comes to them spending money. Some purchase food, others electronics or videos and music. Around 20% of men spend money on clothing to comfort themselves.|
Men or Women – Who spends more?
We just saw how men and women spending habits differ when they are feeling down. But which group is likely to spend more often or buy items which are more expensive? Whereas women are likely to spend more often, men are more likely to splash out on higher amounts. So men and women are spending on average the same amount of money, but women are more likely to spread it out whereas men will spend the same in 1 or 2 shots.
Furthermore, men have the better saving habit; women are cleverer shoppers and on average save money on the items they buy. So whereas men are better savers and put away more money for the future, women shop around more and sniff out offers and discounts.
Do we spend too much?
Obviously, we can not stereotype. Everyone has individual spending habits. Some women may strictly save their money and men can be the ones buying unnecessary sale items. We all have our weaknesses, and we tend to waste money rather than save it for more useful things. But understanding what our weaknesses are, is a step forward to solving the problem of over-spending and avoiding instant loans.
Each person should realise what their bad spending habits are so they can take control of their finances and avoid falling into unnecessary debt.
So before you buy that new pair of shoes or that expensive pair of earphones, think twice and judge what is feeding your drive to buy.