Women shun men with debt – but hide their own

Women shun men with debt – but hide their own
About this post

Money can be a deal breaker when it comes to relationships so if your other-half found out about your personal loans, credit card or mortgage debt – which sex do you think would be first out the door?

RateCity’s Cash of the Country research revealed a few home-truths, proving that money is a major factor when it comes to the success, or failure, of a relationship.

The findings found that 49 percent of women would give their man the flick if they discovered he had substantial debt but are not forthcoming with their own debt – with just over half of the surveyed participants claiming they’d disclose their personal debt to their partner.

The results painted men as the more honest sex when it comes to money – with 61 percent confessing to their partners how much debt they have, as opposed to 56 percent of women. Men were also more honest when it comes to their savings (56 percent versus 52 percent women) and sharing how much they earn (62 percent versus 59 percent women).

But perhaps men should be more wary when it comes to disclosing the details of their financial position with 49 percent of Australian women saying they wouldn’t date someone with over $50,000 in debt – compared to only 30 percent of men agreeing it was a deal breaker.

Got a bad credit rating? 36 percent of the women surveyed wouldn’t date you either. But 81 percent of the men surveyed would, regardless.

But before you start hiding your personal loan and credit card debts from your lady friends – perhaps they have some reason to be more vigilant when it comes to selecting a man with no debt.

The most surprising statics to come out of the RateCity survey was that men actually spend more money on impulse shopping than women.

The majority of the women surveyed spend less than $500 on impulse shopping, while the majority of men tend to spend between $500 to $10,000 – with some admitting to spending much more – on their impulse purchases.

The most obvious trend to emerge from the battle-of-the-sexes money survey was the affect personal debt can have on a relationship. If you are struggling with debt, don’t bury your head in the sand. Run a personal loans comparison online to look at your options for consolidating and paying off your accumulated debt. You, your partner and your back pocket with be grateful for it.

This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about products from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all providers and may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a product, you will deal directly with a financial institution, and not with RateCity. Rates and product information should be confirmed with the relevant financial institution, and you should review the PDS before you decide to purchase. See our terms of use for further details. This advice is general and has not taken into account your objectives, financial situation or needs. Consider whether this advice is right for you.