The Influence of Women On Money
Though women still only earn about 82% of what men do in the modern job marketplace doing the same jobs, their influence on money today is unquestionable. Women have the ability to influence men to save more, spend less, and even borrow less money. Though more women are influenced by sales and feel compelled to spend money at them than men are, the statistics are undeniable: women are making more than they have ever made before and are encouraging men to save more than ever before.
Almost 30% of Married Women Make More Than Their Spouse
Despite a recessive economy in many sectors in the last decade, incomes for both men and women have still remained up for both genders since 1979. The increase in the salaries that women make is over 30%, while for men it hasn’t even gone up 20%. This has helped women close the gender salary gap dramatically in the last three decades to the point where over 28% of married women actually make more than their husbands do. Combine this influence on money with a women’s ability to get a man to save almost three times more money and you’ve got the combination for families to really be able to build up wealth.
Men Love To Borrow Money
Guys tend to be more aggressive with their finances and will spend it on many things, from investment opportunities to sports to gambling. This causes guys to borrow over 80% more money if there isn’t the presence of a woman influencing his activities. He’ll also save more than 40% less money without the influence of a woman who is just encouraging him not to spend so much cash! More men also take cash advances from their credit cards and take on late fees because of the gambling nature of how they spend money.
Women Tend To Purchase Tangible Items
While women don’t tend to gamble on debt, they do tend to carry more debt than men do. That’s because women spend the most money on shopping for items instead of investing it as men do. Outside of shopping, women tend to spend money on beauty items, dating opportunities, and keeping themselves in shape. This means they don’t pay off their credit cards as readily as guys do, but there is much less risk in the debt they are taking on because there is a tangible item for many of their spending decisions.
The Bottom Line? Women and Money Mix Well!
If you find that you aren’t saving as much money as you should or seem to be out of control with your spending habits, find a good women to advise you. Women can even influence other women to save more and spend less! This way there will be less debt for you to worry about, more of an emergency fund in your savings account, and you’ll be able to find the financial stability that you need.