Who Spends More? Men or Women
Current belief treats women synonymous with excessive spending – cliché. However, according to several reports, men have crossed the psychic barriers and have skillfully emerged to be the new excessive spenders. Studies have also confirmed that young men below the age of 28 are insanely obsessive with spending - more than 60% of young adults in US alone are under debt.
So what are the tempting factors that make men or women to spend more?
It is a matter of great debate to arrive at the sex that spends more. According to a recent research, women tend to spend more on specific items as compared to men. Men, on the other hand row the same boat when it comes to sports or personal hygiene.
It is therefore preferable to list the ‘spendees’ according to their interests.
Living and Home Interiors
It is arguably correct to place women in the top spot here. From home decorations to fancy curtains, women put in best their creative best to decorate homes. At times, things that are completely unnecessary find a place because of their elegance. On an average, women spend around $100-200 per year only on living and home decor. Men on the other hand utilize their hard-earned cash more judiciously. They are reported to spend no more than $100 per year.
Personal hygiene section is definitely dominated by women. Beauty products, makeup, grooming etc. the list goes on and on. A study conducted in Europe demonstrated that women on an average spend around $450-500 on hygiene every year. The amount is reported to be less than $200 for men. Not only this, women tend to experiment more with new launches in cosmetics and personal hygiene as opposed to men.
Clothing section is equally divided between men and women. However, in some instances, women dominate with their added accessories. A recent study reports that several top-notch stores and retailers charge differently on identical items. A pair of jeans would end up with a difference of at least $5 at some stores. Nonetheless, working women are surprisingly moderate spenders as compared to teens. The scenario is entirely reverse in case of men. As soon as men get their paycheck, they can be found nowhere but retail stores.
Food and Alcohol
Women drink less in comparison with men. Thus, when it comes to alcohol, men are mean spenders.
Women are generally avid spenders when it comes to feeding their families. On the other hand, men prefer to eat alone; as much as they want. An average American male spends more than $500 per week on food as opposed to the $375 expended by a woman.
Men are technology addicts – not all of them, of course. Women, on the other hand are generally more passive when it comes to technology or gadgets. Research shows that men spend just less than shy of a quarter of their monthly earning on gadgets. Women, on the other hand are pearl-protected in this category.
With the rise of technology impacting lives, scenario is changing now.
Deducing from the above – Women love to shop. Men are not passive about shopping; they just tend to prioritize their requirement.