Big spenders more likely to be men, survey shows | Stuff.co.nz

Women are managing their finances better than men for the first time in nearly two years.?

A Dun & Bradstreet consumer credit expectations survey found women were more likely to exercise conservative spending habits.?

The survey revealed 63 per cent of women expect to be able to pay their credit card bills with ease, as opposed to 57 per cent of men.

Additionally, 75 per cent of women shy away from spending on non-essentials, such as entertainment and beauty products, while this is true for 64 per cent of men.

Dun & Bradstreet New Zealand's general manager Lance Crooks said women were improving their ability to manage debt and credit obligations, which indicated they were becoming more financially responsible than men.

This highlighted women's efforts to be on a firmer financial footing, he said.

Out of more than 900 consumers surveyed only 14 per cent of women expect their debt levels to rise, compared to 17 per cent of men.?

The survey, which measures expectations for savings, credit usage, spending and debt performance, shows a 5 per cent quarter-on-quarter improvement in credit payments outlook for women, while Kiwi men dropped 9 per cent.

This data follows a recent MasterCard consumer survey which revealed half of New Zealand women are responsible for managing monthly household finances.

But when it comes to applying for credit, women also have a smaller appetite than men - only 4 per cent intend to apply for a new credit card this quarter, compared with 10 per cent of men.?

Dun & Bradstreet economic advisor Stephen Koukoulas said it was difficult to pinpoint what caused the significant lift in the proportion of women controlling their finances.?

The results could reflect the slow but steady improvement in the economy and low interest rate settings were helping women manage their finances better than men, who have a higher disposition towards debt, he said.

Nearly half of the New Zealanders surveyed are not planning to use their credit cards to pay for otherwise unaffordable purchases.

And more than 40 per cent are more likely to save money because of current economic conditions, especially consumers under 35, Christchurch residents and people earning more than $70,000.

- ? Fairfax NZ News

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Source: http://www.stuff.co.nz/business/money/8504328/Big-spenders-more-likely-to-be-men

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