The other day my partner (also my wife and a yummy mummy member) and I had a lively discussion surrounding the majority of the couples that we assist all year long (I head a team of Mortgage Consultants in the greater Toronto area).
Janice stated that she had done some research, looking into the thousands of people that we have assisted over the years. Her claims initially surprised me, that is, until I began to do my own research. I began to read, search and compile verifiable data and I made the most interesting discovery.
Over half of Canadian women say that they are responsible for most of the day-to-day financial decisions, according to MasterCards 2010 MasterIndex of Canadian Women Consumers. More than half of those enjoy their role as the primary decision maker.
The report examined the role of women over the age of 18 in Canada as well as looking at the effects of the global recession on consumer behaviour. "The recession was a financial marathon, but Canadian women emerged leaner, stronger and more financially satisfied," says Julie Wilson, Director, Public Affairs in a press release, "They are more confident in their financial situation. They are still spending, but they are now dollar-store chic."
Although the number of women who are responsible for the day-to-day household financial decisions was down to 51 percent from 2006's 55 per cent, more Canadian women enjoy that responsibility. Moms are the ones most likely to have the sole responsibility of day-to-day finances in their home, the study found. More specifically they are making the principal Mortgage Decisions.
Six in ten Canadian women are satisfied with their personal financial situation, with only 14 percent being very satisfied. This number is up from 54 percent in 2006.
Six in ten Canadian women are savers. Their stage of life often dictated how women spend their money. Over seventy per cent of Canadian women say that a good price is the most important factor when they are shopping for themselves and their households. For “New Earners”, brand name is a bigger consideration for moms when it comes to buying for themselves.
That data reverses when it comes to buying household items. The 2010 research was conducted by Environics Research Group from July 22 - August 4, via a national online survey of 2,000 adult Canadian women aged 18+.
Upon discovering this most interesting and verifiable phenomenon, I assembled the “team” and we began a review of over a thousand of the families that we have arranged Mortgages for over the past 10 years. In fact in our experience, over 64% of the ladies have made the final mortgage decision.
I humbly expressed my apologies to all of the girls involved on our team, and I surrender…Mummies do rule.
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