New Study Shows Women Are Superior When It Comes to Credit
The majority of women in the United States still make less money than men, although that is changing rapidly. While they may actually earn less, it seems that they manage their credit better — at least according to a new report from Experian.
On average, women earn 2.4 percent less than men, but men have 4. 3 percent more debt. Even the credit companies agree. Women have a higher average credit score, too. Men are more likely to spend money unwisely, skip a house payment once in awhile, and generally take life (and finances) less seriously than women do.
It’s been my experience that women tend to be more careful with money because they are wired to make sure that everyone is safe and secure before they allow themselves to splurge a little. They will make sure there are groceries, the bills are paid, and their job is secure for the next several millennium, and then they will buy those new jeans that they wanted.
On the other hand (still my experience) men see money as something that is easily replaced and they tend to spend it a bit more freely.
How does it work at your house? Are you the credit card police, making sure that each payment is made on time and that you don’t overspend? Or does your partner take on those chores?
Maintaining a strong credit history is important for everyone. Talk with your partner and decide who should be the one to safeguard your family’s credit rating.