Women control the market but appear to be losing self-control

Posted by sophiamind on 21/07/2010 at 13:01

Category: Consumption Money Research | Tags:

Installment purchases, credit cards and personal problems are the main culprits in women’s indebtedness.

Responsible for moving billions of dollars in the global market, there is no doubt that women have earned power over recent decades, primarily by controlling the consumption and purchase decisions of countless families around the world. However, they indicate emotional factors or the failure to organize expenses as the main justifications for acquiring their debts.

The study conducted by Sophia Mind about Women’s Indebtedness highlights the credit card as the main channel that leads them into the so-called “red zone,” and despite the fact that 92% have already been able to pay off some debt, nearly half became indebted once again.

The survey conducted on 913 women ages 18 to 60 in June 2010 indicated that, regardless of age, the majority of women generally make installment purchases and, when they do so, they state they are control of how much they can spend.

Nearly 70% of the women interviewed have already used or use overdraft protection and 27% of them do so every month.

The figures indicate that despite the fact that they have acquired responsibility and earned an important role in the purchase decisions in the majority of market sectors, the appearance of some problem is one of the main factors that leads them to lose control when consuming, and in some cases, they end up acquiring one debt to pay off another.

Age was also revealed to be a differential factor. The youngest women up to age 30 spend more on superfluous items; the purchase of high value goods is more common for women ages 26 to 40; and those older than 40 indicate the appearance of some disease as the main motive.

Related surveys: Women’s Financial Planning ; Installment Purchases by Women

See also other surveys on Finances

Download PDF

Share:

Outros

Comment