Men and women’s spending habits, not what they seem

It would appear perception and reality are not aligned when it comes to what men and women think the opposite sex likes to spend their money on.

A recent study by Mortgage Choice found that Australian men believe women are fashion and beauty fixated, while women believe men are booze, sport and tech obsessed. In reality though, this couldn’t be further from the truth!

Australian women actually aren’t as image-obsessed as their male counterparts would have you believe. New data shows women like to spend their money on socialising, entertainment and home furnishings*. An impressive 42.2% of women said spending money on home furnishings was their favourite thing to do, which is not overly surprising given that women are often more inclined to ‘feather their nest’ and deck out their home with nice things.

Of course, it wasn’t just men who had no clue about what their female equivalents would happily spend their money on - women were just as bad at guessing what the opposite sex wanted.

While booze and sports were reasonably high on the male agenda (as guessed by women), they aren’t at the top of the list when it comes to things that men like to spend their money on. In fact, men prioritise entertainment, socialising and electronics where their spending is concerned.

So it would seem, funnily enough, that both sexes actually like to spend their money on the same things - entertainment and socialising.

Regardless of what men and women like to spend their money on, it is important to stay on top of day to day spending. Fortunately, this is a notion that Australian men and women agree on, with over 60% stating they keep track of their spending on a daily or weekly basis. 

Those who take steps to spend within their means will ultimately find themselves in a better financial position overall.

If you would like more help managing your financial situation or would like your money to work harder, speak to one of our specialist financial advisers today.

They’ll be able to help you create a financial strategy that is not only perfectly suited to your needs, but allows you to successfully manage your finances both now and into the future.

*Mortgage Choice 2016 Money survey