Women manage money better than men can

March 11, 2010 1:38 PM

It's official - women are best at handling the family purse strings, according to new research.

The female of the species are better at budgeting and keeping track of their spending and are also less likely to build up debt on a credit card or through a loan, it emerged.

Fewer women than men also turn a blind eye to their finances and ignore mounting debts, pay bills late or forget to pay them altogether.

And they also make more of an attempt to chip away at debts while men prefer to make minimum payments.

Maybe these superior budgeting skills somehow explain how they can usually afford a new pair of shoes.

A quarter of men polled admitted to regularly paying their credit card bills late, or even forgetting them altogether but women are much more organised with just 17 per cent making the same mistake.

They were also more likely to take out a loan, with six out of ten applying for one compared to just five out of ten women.

A spokesman for lovemoney.com, which carried out the study of 3,000 people, said: "For years, women have been thought of as the big spenders, splashing their cash on clothes and shoes.

"But it seems men are gaining their own reputation when it comes to managing their finances while women are learning how to handle their money.

"As more gadgets become available, guys are spending their hard-earned cash to keep up with their mates in the technology stakes, but it seems many are relying on credit to cover the costs."


Link: http://newslite.tv/2010/03/11/women-manage-money-better-than.html