Study suggests that women are less able to cope with debt
Contrary to popular belief, new studies have revealed that women are more susceptible to issues of debt and financial management than men.
One of the UK’s leading market research companies (responsible for the study) stated that women are almost 5 times more likely to struggle with their credit commitments than men. However, the firm also stated that as an average, men do tend to be more indebted (as far as debt volume is concerned) than women, but are far more able to cope with their commitments.
One expert suggested that women tend to become indebted as a result of a relationship souring or some other sudden change to the normality of day-to-day life. He also suggested that women are especially prone to thinly spreading their credit commitments across a wide range of creditors and losing track.
Accordingly, almost 70% of debt consolidation loan applicants are said to be female, with a further 80% of said applicants listing home shopping catalogues as one of their primary credit commitments. It is also noted that single mothers form a sizeable percentage of those that responded to the survey.
