If the way to a man’s heart is through their stomach, the way to a woman’s is through a big pocketbook. That’s what men often think at least, according to a new study done by the University of Minnesota’s Carlson School of Management.
The study showed that when there are more women than men living in a certain area, men forgot about their savings efforts and instead, tended to splurge. For the study, researchers would ask participants (all male) to read several articles pointing towards the fact that there were more men than women in the area. After their reading sessions, they were then asked how much they would be putting towards savings each month, and how much they were willing to borrow (in any form whether through a home equity loan, a credit card, or some other form of borrowing.) The results were shocking, with savings dropping by a whopping 42%. That’s still only half though of what they’d be willing to borrow – 84% more each month!
The study went a little farther than just getting men to read some newspaper articles and then talk about their spending/saving habits. It also looked at population and income data for 120 cities in the United States. What it found there was that in cities where there was a higher ratio of women to men, men borrowed more and saved less.
But how surprising is this news really? It’s known that many animal species will often compete in their own ways for a female’s attention. And, it’s not even that surprising that men shower women with products, money, and gifts when they’re trying to woo them. (A quick look at flower sales on Valentine’s Day will tell you just how much they’re willing to spend.) And even once a man has successfully courted a woman by taking out his plastic, does it stop there? Or do women, either directly or indirectly, have an effect on a man’s wallet, even after the courtship period?
You’d think they do, after a quick look at a separate study done by Vertis. This study focused on home purchasing and home renovations that are made – often after a man and woman have been married (or at least living together for some time.) The study found that when it comes to improving, remodeling, or adding onto a home, it was the woman of the household that was the driving force behind the change. Why? This one probably doesn’t have so much to do with the man trying to win the woman’s heart, but rather the fact that women simply care more about the aesthetic look of their home. Men of course care how their homes look too, but they’re still traditionally more focused on just making sure the home meets the needs of those within it. If it’s close to schools, close to work, and still in good condition, a man is generally more or less happy. A woman on the other hand, needs to feel like it’s a pretty, comfortable place to live – in addition to having all the practicalities.
What do you think about these two studies? Do you think that women, either directly or indirectly, control the finances in a relationship? Or at least have a major impact on it? And although both of these studies are American, do you feel the effect of the demographics in your own Canadian neighbourhood?
