In a study published by Forbes, conducted by a census office in 2015 and 2016, it was found that single men tend to spend more money on food and cars than women.
The study pointed out that men and women tend to spend equal amounts on entertainment, however, women spend more on clothes and therefore it can be said that women have the ability to avoid spending better than men.
The first reason
When comparing the ability to handle money, the spending patterns of men and women should be analyzed, as well as their ability to save money and awareness of costs.
According to a study conducted by Massey University in New Zealand in 2008, women are more frequent in visiting retail stores than men, as these stores offer goods at lower prices than other stores.
Given that 71% of women are more likely to “hunt for sales,” it can be said that women are “more cost conscious” than men.
However, a 2015 study by the BMO Harris Fund suggested that men tend to save more money than women, but women tend to take more time away from work, leading to less savings.
The second reason
Statistics have shown how women are able to handle money in an efficient manner. Thus, one might assume that women are excellent in commercial roles as a “safer bet” in the business world.
Between 1997 and 2014, women-owned companies witnessed growth of 72.3%, which is about 30% higher than the growth rates of men-owned companies.
If anything, it is that women have an excellent ability to be an entrepreneur to some extent, but it is not used adequately in many industries.
Furthermore, the employment growth rate of women-owned businesses was more than 18% higher than that of men-owned businesses (according to the Census Bureau). Therefore, women also seem to be able to achieve economic development as well as growth, which greatly benefits the economy in the long run.
Source: “Forbes”
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**Interview with Dr. Emily Carter, Behavioral Economist**
**Editor:** Good afternoon, Dr. Carter. Thank you for joining us today to discuss the recent findings from the Forbes study regarding spending habits among single men and women.
**Dr. Carter:** Thank you for having me! It’s an interesting topic, and I’m excited to discuss it.
**Editor:** The study indicated that single men spend more on food and cars than their female counterparts. What do you think drives this trend?
**Dr. Carter:** It’s a fascinating dynamic. One possible explanation is that single men may prioritize spending on vehicles as a symbol of status or independence, while also allocating a larger budget to dining out, perhaps to enhance their social lives.
**Editor:** That makes sense. What about the finding that men and women spend the same amount on entertainment?
**Dr. Carter:** Yes, it suggests that interests in leisure and social activities may not differ significantly between single men and women. This is where we see a balancing act in their spending habits, emphasizing shared interests like dining out, movies, and events.
**Editor:** And what about the fact that women spend more on clothing? What might be contributing to this difference?
**Dr. Carter:** There are a number of factors. For many women, clothing often plays a role in self-expression and identity. Social norms also emphasize the importance of fashion for women more than for men. It’s about societal expectations as much as it is about personal choice.
**Editor:** It seems like these spending habits could reflect broader societal trends. How do you think they might change in the coming years?
**Dr. Carter:** We might see shifts as gender roles continue to evolve. For instance, as men become more involved in fashion and personal care, we could see them spending more in those areas. The same goes for women and their spending in areas like automotive or food. The tides are changing!
**Editor:** Very insightful! Thank you, Dr. Carter, for your perspective on these intriguing spending habits.
**Dr. Carter:** Thank you! It’s always great to discuss how our behaviors reflect broader societal changes.
