Women more skilled at budgeting than men

Contrary to common perception, women are better than men at budgeting and maintaining a record of the household expenditure, a new study has found. It also revealed that...

Women are better than men at budgeting and maintaining a record of the household expenditure, a new study has found.

The research, conducted by money management website love money.com, shows that women are less likely to build up debts and will try and pay off the money they owe unlike men who would rather pay as less as possible.

It was also revealed that fewer wives paid their bills late or forgot to pay them completely unlike their other halves.

“For years, women have been thought of as the big spenders, splashing their cash on clothes and shoes,” the Daily Express quoted a spokesman for love money.com, as saying.

He added: “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.”

The survey, comprising 3,000 Britons, also demonstrated that men’s debit cards carried an average debt of 2,176 pounds, while women had just 1,987 pounds.
One in four men confessed to regularly paying their credit card bills late, or even forgetting them altogether. On the other hand, only 17 percent women made the same mistake.

It was seen that women were also better at keeping track of their expenses. Twice as many men ignored their finances with one-tenth admitting to burying their head in the sand, compared with just one in 20 women.

Over 57 percent women knew where money had to be spend each month and when bills need to be paid, while a mere 54 per cent of men could boast of the same.

One in 20 men even confessed to having no idea about the position of their family finances, always ended up overspending and forgot to pay household bills.