Who is more likely to ask for a loan, a man or a woman?
Who is more likely to ask for a loan, a man or a woman? We will find surprising things if we begin to analyze which sex is more liable to borrow.
Loans, finances, these topics are of interest to everyone and are a source of prejudice. “Women spend money faster”, “men make better money” – these are stereotypes that everyone knows and there is a bit of truth in them. Or not?
It would hardly be our task to make justice in social matters when we look for an answer to the question of whether women or men are more likely to choose a loan.
Would you believe that the fundamental difference in finance is not social but more genetic?
Men are more prone to risk by their nature. There are between eight and ten men for every mountaineer, extreme sportswoman or miner. However, women are more cautious in their assessment.
On the basis of this, we could assume that men are asking more for loans than women. But the truth is that both men and women apply for loans on an equal footing!
The gender gap is shown in the way money is used from the loan
International Bank Survey, after analyzing over 100 million loan applications, concluded that women would use more of their credit than men.
More than 70% of the credit line is used by 59% of women, while only 57% use men. At the same time, 28% of men use only less than 30% of their credit line, for women this figure is 25%.
Loan or credit ads are more focused on women
So we can say that while women are expected to be more cautious about credit, it is the other way around. They will use their credit line while men only need it. The difference is not significant and therefore we should not come up with any clear statements.
In debt management, the difference between men and women is much clearer
Consulting companies claim that they have many more female clients in debt management.
Even the numbers prove this claim. In the United States of America, 63% of the people who use consulting services are female. Men are less demanding when it comes to debt management.
Banking services are used equally by women and men, and there is no difference
According to information from banks, their services are used equally by women and men.
Loan, loan? – Women are looking for safer financial products
When it comes to family, women initiate joint financial decisions. They are the ones that open a bank account or building savings for the bank.
The traditional model of the family also implies that women are responsible for what is happening in the family and therefore deal with the solution of financial issues.
Social stereotypes are invalid if we explore reality
Based on our experience, we can say that it is not true that women spend more money or that men are less cautious. The fact remains that women councils use the help of financial experts or credit calculators on the financial comparison website if they are looking for the best financial products.