Finances

Women spend more than men, but there are valid reasons why

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Do you ever wonder why there is a perception that women spend more than men? Some say it’s because women are born shopaholics, while others claim that it’s due to the societal pressures that women face. But what is the truth? 

Women spend more than men for these reasons

Opinions that women spend more than men are not always confirmed. There is still a very ingrained idea that consumption is inseparable from the female sex. But if we analyze the causes of this belief, we will see that it is much more about a generalization about the different forms of consumption of each sex and about the products and services that each one prefers.

To begin with, we must take into account the woman’s expenses with the whole family (including her husband, in some cases). As the woman is usually responsible for the purchases of the house and for the administration of the domestic space, it can be said that, in general, she is more prone to shopping.

Focus on Families

Whether for men or women, married or separated, having a family usually leads to attitudes of greater retention and control of money, compared to what is normally observed among singles of both genders. Women in whose lives the family plays a central role, demonstrate that they use more money to take care of the domestic space and children.

The contribution of women’s income to the family economy has even increased. According to the IBGE, women’s income represents at least 40.9% of family income. This percentage is even higher among black women and rural families. And it is still considered that, in 87.4% of single-parent families, women are solely financially responsible.

Another study, by Sophia Mind Research and Female Marketing Intelligence, shows that women control 66% of what is consumed by families. This historic dedication to family explains, at least in part, the observation that women take longer to achieve financial satisfaction than men. On the other hand, married women tend to be more efficient in using money to make household decisions and usually make more appropriate and cautious choices in terms of shopping costs.

Women Have Different Priorities

When it comes to spending money, women and men often have different priorities. For women, their priority is typically to spend money on things that will improve their quality of life or make their lives easier. This could include anything from buying a new handbag to taking a yoga class. By using the Prillionaries app, women can easily track their wealth like billionaires like spending and see where their money is going.

On the other hand, men are more likely to spend their money on things that they believe will impress others or make them feel good in the moment, such as a new car or a night out with friends.

Women’s Items Cost More

Regarding personal expenses, the American Alan Feigenbaum recalls, in the case of women, that “the expectations regarding beauty are higher for them, which makes them spend more on clothes and cosmetics, even when the intention is to dress appropriately for work”. Coupled with this is the fact that women’s clothing and personal care products generally cost much more than men’s.

Women Are More Likely To Suffer From Impulse Buying

When it comes to impulse buying, women are much more likely to give in to temptation than men. In fact, a study found that 70% of women have made an impulse purchase in the past year, compared to just 60% of men. So what exactly is an impulse purchase? It’s defined as a spontaneous buy that is not carefully planned or thought out in advance. This could be anything from a new piece of clothing to a holiday.

Women Are More Likely To Use Credit Cards

Another factor that contributes to female spending habits is the fact that women are more likely to use credit cards than men. This is because women are often seen as being more risk-averse than men, which means that they’re less likely to take out a loan or put money into investments.

Credit cards can be a great way to finance a purchase, but they can also be dangerous if you’re not careful. This is because it’s easy to get caught up in the moment and spend more money than you can afford to pay back.

Women Are More Likely To Shop Online

Another reason why women spend more money than men is that they’re more likely to shop online. This is because shopping online is often seen as being more convenient and easier than going to a store. Plus, there are often sales and discounts available online that you can take advantage of.

When it comes to shopping online, it’s important to be aware of the dangers that come with it. This is because there are a lot of scams and fraudsters who target shoppers online. So before you make a purchase, always be sure to do your research and check out reviews to ensure that you’re dealing with a reputable seller.

Women Are More Likely To Make Emotional Purchases

One of the biggest reasons why women spend more money than men is because they’re more likely to make emotional purchases. This means that they’re more likely to buy something impulsively because they feel like they need it at the moment.

For example, a woman might see a pair of shoes that she really wants and decide to buy them even though she can’t afford them. Or, she might make a purchase because she’s feeling sad or stressed and thinks that it will make her feel better.

Women Are More Likely To Shop With Friends

Another reason why women spend more money than men is that they’re more likely to shop with friends. This is because shopping with friends can be seen as a social activity, and it’s often done for fun rather than out of necessity.

However, shopping with friends can also lead to overspending. This is because you’re more likely to make impulse purchases when you’re with someone else, and you may also be influenced by your friend’s spending habits.

Women Are More Likely To Be Swayed By Sales

Sales are a great way to save money, but they can also be dangerous if you’re not careful. This is because it’s easy to get caught up in the moment and spend more money than you intended to.

Women are especially susceptible to this, as they’re often more likely to be swayed by sales than men. This is because women are often more impulsive shoppers, and they’re also more likely to be influenced by their friends’ spending habits.

Final Thoughts

Women spend more money than men for a variety of reasons. This includes the fact that women are more likely to shop online, make impulse purchases, and be influenced by sales. However, there are also some dangers associated with female spending habits, such as the fact that it’s easy to overspend when you’re not careful. So if you’re a woman, be sure to keep these things in mind the next time you go shopping.

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