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Business Consuming Interests

Experian: Women better at handling money than men

Surveys indicate that men tend to handle the investments for the family. But when it comes to managing other money matters, women might be the better choice.

Experian, one of the top three credit reporting agencies, reported that men have more debt, they use up more of their lines of credit, have bigger mortgage loans and are more likely to be late with a mortgage payment than women.

Perhaps more impressive, women are showing superior money management skills even though earn less.

“When looking closer at our data and cross-referencing it with other data sources, we see that women working full-time in the United States earn approximately 23 percent less income3 than men but that women are taking steps to manage their finances better than men,” said Experian’s Michele Raneri in a statement. “The most notable difference is that men are taking bigger individual mortgage loans than women, but it would appear that they are having a slightly more difficult time making those payments on time.”

Although to be fair to men, the differences between the sexes aren't that great. According to Experian:

Men have an average credit score of 674; women, 675.

Men’s debt averages $26,227; women, $25,095

Among delinquent mortgages, men account for 5.7 percent; women, 5.3 percent.

 

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