Women Have More Credit Card Debt Than Men

What's Wrong?

Credit Card Debt and the Sexes | YummyMummyClub.ca

Men are from Mars and women are from Venus—we know this to be true—studies have touted it and we notice it in everyday situations like, I don't know, eating sandwiches, breathing, etc.

A recent survey of 1,107 adults solidifies that statement even as gender gap closes and as the fight for equality prevails.

The 2015 National Debt Relief survey found that there is a significant difference in how the sexes manage their finances. 

Sixty-three per cent of women aged 18 to 24 had credit card debt, while only 36 per cent of men in the same age group did. In an older age bracket, adults aged 55 to 64 had similar results with 66 per cent of women holding debt while 33 per cent of men had debt.

Adam Tijerina from National Debt Relief knows why this case, telling U.S. News that the "culprit is that women are still paid less than men." 

Stats taken in 2013 find that women on average earn 81 per cent of the salary men make in a year with variances notable depending on age group. 

But until women get paid the same amount as men do (and it is happening, justlook at Jennifer Lawrence), there are a few things we can do to avoid debt before it happens.  

1. Create A Budget

2. Keep A Spending Diary

3. Track Your Debt

4. Set Up A Savings Account

5.Track Credit Card Spending

Read more about our easy money hack list to keep you out of a financial ruin here

Previously published at W Dish.

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Russell is an editor and social media manager at W Dish. When he’s not reading up on the latest breaking news, he’s tweeting about it. He was an intern at CBC Arts and an editorial assistant at CBC The National. Russell studied journalism at Ryerson University in Toronto and has a mild obsession with Oprah Winfrey. Follow him on Twitter.