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Credit Card Deals - Do Men Save More than Women?

2007-10-02

From childhood, men and women are raised differently. The point is that we imitate the habits of our same-sex parent, and financial habits are no exception. When we make credit card deals, we are not getting to the fact that we refer to the experience of our parents. The research of American cardholders shows the progress in the amount of savings in comparison with the last year. The bad news is that women turn out to be not so good in savings as men. Why is it so? Do women trail men just because they are women?

By all means, much depends on our perception of various things. It is believed that women were born for shopping, i.e. for spending. Small wonder, because their mission throughout thousands of years was to breed children and to keep hearth and home in apple-pie order. So, they try to seek something that makes their home even better.

Speaking about credit cards, they prefer rewards credit cards that enable to spend and get something for it. They take a practical approach to such matters. It's an excellent opportunity to do shopping, earn points and redeem them for something worthy. Isn't it fabulous? You use a plastic and your credit company gives you something in return.

Men have a tendency to invest in some big-ticket items, like houses or cars. They aim to get maximum benefits from this or that purchase. Males do not hesitate over a choice, they simply go and take the most acceptable item. For example, when men choose the best credit card deal, it takes them less time and they have no agonizing doubts about it.

When we save, we think about our future and try to take control of those events that may take place. Women appear to be present thinkers. They provide their families with items needed in our day-to-day activity, like food and household stuff. When it comes to savings, it turns out t be a tough job, especially for single mothers. Without assistance, saving becomes a luxury for them.

Another factor is the difference in social status. Women are less financially secured than men. They cannot save, for they have to spend too much. Moreover, on the average women earn less than men. It's extremely difficult to make a career and to be a good wife and mother.

In addition to that they spend about 3 years on maternity leave and it has some impact on their career and therefore on their credit card deals. Meanwhile, men are supposed to be breadwinners and work hard. That's why they look for a high-income job and sometimes prefer to have a small business of their own.

Financial analysts point out that women are excellent organizers of their credit cards, i.e. they pay off their bills and check credit card statements on a regular basis. So, they prefer to keep their financial matters in order. All the more, women are not likely to fall into debts and have difficulties with credit card companies, while men run to extremes and the amount of male debtors is significantly higher. They are risk-takers and active investors in long-term loans.

In fact, this difference in savings is not so great. Besides, most of us start a family and have one family budget. This way it's easier to find a balance and to find the best solution in certain situations.

It is an interesting survey, but I think credit habits depend more on family upbringing that on a sex. I know enough men who can't control their spendings, and there are many women who manage to save money monthly.