In 2014, men had better average credit scores than women in the USA
Men had higher average salaries than women but have more credit, too. Men's average credit utilization percentage tended to be smaller. The article rattles off a number of reasons why women might have a higher cost of living and mentions life events such as taking off time from work to take care of aging parents or children.
Otherwise the above reasoning may have merits except for the little fact that when people marry or start to cohabit they will form a single economic unit. Married women or women in common law marriages will be able to rely on their men for financial support and very often they do. I suspect the un-PC truth is that women have a tendency to overspend more often than men and that men's overspending is often related to a need to impress women. While women tend to be more risk-averse than men, they also tend to be more susceptible to peer pressure than men. The need to keep up with the Joneses presumably afflicts women to a greater degree than men, on average. Women drive 70-80% of consumer purchasing either directly or by having influence over purchases paid by someone else. Advertisers know this perfectly well which is why most advertising is geared towards women. Advertising is effective which is perhaps at least partly why women also may have a greater average tendency to overspend.
There is a "universal motto" that I hear in movies (The Island):
Now seriously, I think that regardless of the country and its feminist policies, I believe that women can earn more than men. The only problem is that "they spend a lot more" because they are more consumers as you mention it.
If you look at the big picture, however, the economy depends of both supply and demand. Without consumption there is no demand for consumer products. And without demand for consumer products, investments will not be profitable. Without profitable investments nobody will be hired.
Well here the credit card have been very useful to soften the inflation hits, many people I know have increased the credit card limit a lot and I mean alot this year, and I some had been told me that they use it to advance purchases of necessary things.
And I don't know if it will be a coincidence, I can't compare the north economic trends with Venezuela, but after saying that, my sister before moving to Spain had 3 credit cards and all of then was at their limit :D, it wasn't until recently that she was able to cancel it all of them since the UE€ >>> VEF
So, the interest rate you pay on your credit is lower than the inflation rate, then?
Oh yes definitely, according to the AN the annual inflation of 2017 was 2,616%. and that monthly just in February 2018 was rate 82% to add another nail also expect that at the end of the year it will be 6.147,1%.
Now you can't go crazy and get into debt without knowing that you will have a backup to settle that, but several things, at least in my case, impel me to use more credit card and an extra credit line, the interest rates for now will not reach those levels of inflation, I think the highest rate that has been heard is 29% so that is one, the other thing that influences me a lot, and I think a lot of people don't know, is the lack of products in the country. According so some organisms is around 80%, I don't think so, I think it's a little less 50 or 60%, so if luckily you find a rare product, and you don't have the money to debit it, you get the reliable credit card, and let your future self takes care of that :)
The really odious thing is that there are no official data, only NGOs, so like every Castro/Communist government, they keep all the data because they can't make up more, that complicates everything, and creates a lot of speculation. If you think The Wolf of Wall Street are ferocious, I challenge you to try to buy something in a popular market, and then you'll see the titans of speculation.
haha sometimes I wonder if you read all the comment when I talk so much :)
Definitely the biggest consumption is in us women and that happens on a global level, therefore the advertising companies seek to offer their products frequently for us since we are the most susceptible to consumption. However, there may be exceptions as saving women
Yes wasn't talking about every woman, of course. It seems what it is women's job in families to do most of the day-to-day retail shopping. They seem to enjoy it. I suspect that's because it employs their gatherer instinct. Humans are hunter-gatherers genetically.
The complex world of living as a couple. hahaha, well I can say that so far I have done very well, my beloved wife in college has a higher category than mine. and that makes me earn a million bolivare more than me ..
And finally I can say, that she is very comfortable to spend if need, I am happy with her.
You're halfway through this 365 series right now. It has taken a lot of time but it also feels like a really short time at the same time.
Hi Markku. Kind of makes sense. I shop for what is needed and rarely spoil myself. Females tend to buy what's new and are fed with adverts. The younger guys are brand aware now though so this may change in the future.
I agree with you. I am one of those "young guys" who are brand aware. That doesn't mean that I buy brand clothes or anything but still. I think that men buy big things more easily than women but women on the other buy more of cheaper things than men.
We are alike.
My wife is ashamed of my shoes and my t-shirts have holes in them. Money is lifeblood and I consider keeping up with the Joneses a complete waste of life. To me money represents freedom and security first and foremost. If I have money, it means I will have options and will not have to take orders and shit from anyone. Having my money spent on frivolous shit makes me feel anger and despair. Making money is hard work and throwing money or any resources away carelessly really hurts me. My ancestors were most likely farmers in the marginal lands of the extreme north and I have the genes for thrift.
I am not a scrooge but have learnt to look after what I have. I have a pair of leather boots that are still perfect. I bought them in 1990. They have truck tires for soles and are good for another 20 years. That has been my best buy ever. the funny thing is I bought an extra pair because I liked them so much. i probably won't get to wear them. If they were not handmade and a brand name item I would have thrown them away 25 years ago. Nothing lasts today. It is a throw away society.
From my observation, the discrepancy in spending habits between men and women has a lot to do with opportunity in life and social standing. It is well known that people from disadvantaged backgrounds usually spend less wisely. This is why winning a lottery rarely makes one rich.
Women simply do not get the same rewards for work they do. I don't mean just financially but generally. I read a very interesting account from a trans man and his experience of transitioning. The change was shocking. This individual after becoming a man immediately received recognition at work, even though in their personal opinion their performance didn't change. As a woman, he was told to be lucky to have a good job, while as a man he was told he earned and deserved it. He received bonuses never given to him when he was a woman. Even small things like social meeting improved for him, things like people laughing at his jokes etc. Then there was no bullying. All sexual harassment stopped, he no longer was bullied for unshaved body or not being dressed well etc. It was exactly the same person, all that changed was how people perceived this individuals gender.
Women are told that their value comes from how they and their environments compare to others. This is how women establish a hierarchy between each other. If you have a pretty house and you look great your peers respect you. If you do not you are a laughing stock. Reputation matters to people more than income and for a woman, it's not enough to do a good job, you also have to look the part. Marketing exploits and perpetuates this which is completely unethical in my opinion.
That's one factor to it.
[Edit]
I would like to point out that men and women come from the same birth families. And that women often try and succeed at marrying men at the same or higher socioeconomic levels than them. To say that women exist on a lower socioeconomic level is different from saying that their occupational success is different. Married women or women in cohabiting relationships directly benefit from their success of the men in their lives. What different mate selection criteria cause here is men of low socioeconomic standing not being able to secure a mate and women of high socioeconomic standing not finding mates of acceptably high socioeconomic standing.
This has been studied in Finland. In our country, if variables such as occupation, work experience, overtime hours etc. are eliminated, women actually earned a little more per hour.
This is a very apt description.
Hi @markkujantunen
How are you ?
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Thanks for sharing @markkujantunen
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