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Well, this article explores this possibility. This article believes that more often than not, men indeed are better managers of their own money.
1. Men rarely have shopping impulses.
Rarely do you see men hopping from one shop to another and having a shopping spree. Rarely do you find them saying: "I want to feel good and I can do that by spending some of my hard-earned money." Rarely do see men with hundreds of pairs of shoes, hundreds of trousers, or hundreds of watches.
Unless of course they belong to the metrosexuals, men are simply contented with a pair of their essentials. But for the large percentage of men, they rarely allow their closet to overflow - in fact, it's even a question if they have a closet or not!
Women, on the other hand, are almost synonymous to shopping. A study reports that women spend about eight years of their life in shopping! A poll conducted by GE Money found out that on the average, women make 301 shopping trips annually. That's quite a lot of time - and a lot of money wasted on clothes, shoes, bags, and jewelry!
Therefore, in this aspect, men are better financial managers than women.
2. Men stick to their set budgets more.
Men usually work on a budget. Before they buy something, they first see to it that they have a budget for that. Before they purchase anything, they first consult their budgeting book.
This may be because men are more logical than women. Men know that when their bank account says such a purchase is not planned, then they cannot really proceed with the transaction. What they do is save up and wait until they have enough money to cover for that expense.
Women, on the other hand, do not think like this. When they see a fabulous dress - even if there's no occasion to wear it to - they will drool over it and dream about it until the frock's finally become their possession. They don't mind the fact that they don't have a budget for that. They'd justify the act by saying: buying this dress makes me happy, we should do what makes us happy, right?
Indeed, women are less logical but more creative. They are more imaginative in finding justifications for their actions - especially those that have to do with unplanned expenses and somewhat thoughtless purchases. Women, indeed can always find a way out - including out of a financial dilemma.
So, are you now convinced that men are better at managing their funds, money, bank accounts and everything related to the world of money? Are you now convinced that women are not so good at taking care of their money because something about the thought of having idle money in their hands make them depressed? Are you now convinced that women are truly about shopping and purses and bags and shoes and dresses?
This article hopes you are.
With the A-level results coming out, the long wait for UK school leavers hoping to go to university will soon be over. All the hard work that has been put into achieving the grades required will now pay off and the fun and freedom that is student life can begin. This may have been the case in the past, but the notion that university life is socially and financially responsibility free is now lamentably outdated. These days, if you want to study beyond the age of 18, learning becomes very expensive.
According to the National Union of Students (NUS) ( ) the typical cost of living expenses at a university outside London are around £8,600 a year for the essentials of food, rent, fuel, books and tuition. For students' studying in London they can expect to pay over £10,000 a year.
Barclays bank has calculated that currently the average graduate leaves university owing £13,501. Jeremy Law, the head of student and graduate banking at Barclays said, "students starting a three-year course this September could be graduating with debts of almost £20,000…graduates will find themselves with debts for years to come which may affect their ability to buy homes and invest in pensions…prince or pauper, these levels of debt may act as a deterrent to some people considering going to university."
With student debt growing every year - financial comparison sites like Moneynet ( ) are seeing an increased need for students to take control early and carefully plan for their future. Richard Brown, Chief Executive of Moneynet said “We all understand the importance of budgeting, but for students this can be especially difficult.”
HSBC has estimated that there will be a difference of around £6,400 between the average student's income through loans and their total expenditure this year, making the skill of how to budget effectively a vitally important one to develop early on in a student's life.
A spokesperson for the NUS said, "When you get your student loan it can seem like a lot of money. And for those who have never had to juggle lots of money before it can be difficult not to go out and blow it.”
There is help available from the NUS and other sources to students who get into financial difficulty. The NUS has set up advice centres which can provide support on money management as well as advice on how to access any other funds such as Higher Education Grants, Childcare Grants, Disabled Students' Allowance, Parents' Learning Allowance, as well as possible reduced rate loans, which may be available dependent on course subjects and individual circumstances.
An important issue for freshers to learn is that making careful financial choices early on, such as the right bank account, can help keep graduation debt to a minimum. By focusing on the interest rates, authorised and unauthorised overdraft borrowing rates, bank charges and ease of access to the money in their account, rather than the host of freebie sign-up gimmicks can make all the difference.
The NUS advises, “Students not to get a credit card as you will pay exactly the same high interest rates as everyone else”. In general, credit cards rarely carry genuinely privileged terms solely for students, however students can still utilise cheap forms of credit specifically devised for their circumstances, such as graduated interest-free overdrafts and low interest student loans, before resorting to a credit card if necessary.
Living at home will help to keep costs down, but for most students, this is frequently either not possible, or not desirable. The best way to make finances go further whilst at college is obviously to get some form of job that will fit in around studying. Although many employers do not like employees having irregular working hours due to external commitments, there are some employers who will veritably embrace students as they can fill in on a part-time basis to cover unsociable hours and holiday periods. Supermarkets, restaurants and bars are ideal for student work, as is working late shifts in large financial firms, or being a mystery shopper for research companies, or even becoming a film extra for £50 to £200 a day.
The real problem that needs to be in the minds of all students though is that any money that they borrow, whether it is through a loan or a credit card, must still be paid back at some point, even if that time may seem a long way off, and they expect to be earning a high salary. The truth is that there are more graduates leaving university every year, and there is increasing competition for what seems to be a dwindling graduate job market with diminishing pay rates. Students need to take control of their finances as early as possible in order to stop their finances taking control of them for a long time to come.