Why Women Have More Credit Card Debt Than Men

Gender differences have been analyzed for years across the globe. With the renewed push towards equality and inclusion, more people want to know why things are the way they are. One simple explanation is that we are different in almost every way, except that we are both humans. Enough of that, though. Let’s jump right into it.

Several factors affect women when it comes to credit card debt. Obviously, these points are just general data; it does not consider the exceptions on either side of the fence. So, without any more fluff, let’s look into the reasoning a little further.

  • Pay Gap – Statistics have shown that men make more than women in the same job positions. Men are also more likely to be offered higher-paying jobs, so that puts women at a huge disadvantage. This affects credit card debt because women end up using their cards more for needed items than their male counterparts. 
  • Caretakers – Women are natural-born caretakers. They want the best for everyone around them, even if it is a sacrifice for themselves. This means that women are more likely to feel obligated to pay for everything and support everyone around them than men. That includes using credit cards whenever possible and getting more cards through a credit card comparison site. Men are generally more self-centered than women, putting themselves first. Women, on the other hand, will generally be the opposite. 
  • Lower Jobs – As mentioned above, men are generally more prone to getting job offers that are larger scale. Women who work will have to take anything that comes up, having no shame in working in the lower sectors. Men let their pride get in the way and will stay away from low-paying jobs whenever possible. This means that men are offered better jobs, leaving the rest for women and the young trying to start.
  • Single Parents – You can probably guess which gender is more likely to be a single parent. If you guessed men, you are wrong. Wrong by a lot. The majority of single parents throughout the country are women. As mentioned earlier, women are more maternal than men, putting others before themselves, especially children. This is not to bash men, but most of them are good with having visitation, if that. Feel free to look up the stats.
  • Financial Abuse – Even though this is against the law, it happens regularly. This means that one of the partners living together takes over control of all the finances, including the bank accounts and paychecks. Most of the time, the one taking control will be the male in the couple. Men are more apt to be in control, while women will just shrug and agree. If not, they will be forced into it through threats of physical harm, which is mental abuse, even if the threat is not carried out. 

It is truly not fair that women have more credit card debt than men because it is not their fault most of the time. They do what they must do to survive, regardless of the consequences (within the law, of course). Obviously, this is discrimination, and countries across the globe are working on the situation. But it is a slow process, and as the battle for equality continues, the debt will continue to be shifted in this way. Women will continue to rack up credit card debt, and men will continue to prosper.

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