A Look At Ways Men And Women Spend Money Differently
According to a recent survey by the investment website SaveUp.com, men might be better at saving up for retirement than women.
The survey of over 20,000 SaveUp.com members found that the average man had $50,632 in his 401k, compared to $39,320 for women. Men also had 72% more in their IRAs. But that doesn't NECESSARILY mean men are better at saving than women are. It might just have to do with the fact that men still MAKE more than women. (According to the latest date, women make 77 cents to the dollar.) Regardless, there are definitely a lot of things that men spend more on than women do.
Check out four more ways men and women spend their money differently.
- Women give more to charity, and they're also more LIKELY to give. That's according to the 2010 report from the Center on Philanthropy at Indiana University. In every single income group, households that were headed by women were more likely to give to charity. And even in the group with the lowest income, women gave almost twice as much.
- Women are more likely to search for a deal. According to data compiled by the website 8coupons.com, women take about 40% longer to make a purchase. And they're also more likely to compare prices at different stores.
- Men and women both like to shop when they're feeling depressed, but they buy different things. In one survey, women ranked clothing as the number one item they spend money on when they need some retail therapy, followed by food and shoes. Men chose food as number one, then electronics, then music or movies.
- Guys spend more on booze. According to the Bureau of Labor Statistics, single men spend around $500 annually, compared to $216 for women. With that said, women tend to drink less, simply because they're smaller. Plus, a guy is more likely to buy a woman a drink than the other way around.