Women save, men spend: survey
Posted June 28, 2012 7:50 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – Who makes all of the financial decisions in your home?
A new survey from BMO finds 90 per cent of women pay the monthly bills, which may also explain why they’re usually in charge of saving money.
About three-quarters of men, on the other hand, are in charge of spending, making the call on big ticket items and investing.
Laurie Grant with BMO says sharing these responsibilities is paying off, as every year, Canadians spend more and more. “I think that the more that is mentioned about financial literacy, managing Canadian debt levels… that’s going to start resonating in the home.”
She adds people need to focus on the future. “That comes down to our people setting aside money for retirement. Are they putting together a budget for their different discretionary spending?”
The survey also finds moms and dads are equally taking on the challenge when it comes to teaching kids about money management.
