In times of crisis, women are more likely to take a shopping spree than in normal times.That doesn't bode well for her personal finances, or for those of the guy who is paying her bills.
A new survey finds almost half of UK women are frightened or scared by the recession, and 45 percent felt their financial situation had taken a hit. A full 75 percent said they would be making cutbacks.And what about eating more bon-bons? Nothing like adding extra weight to go along with your extra debt!
Yet 79 percent of them said they would splurge to cheer themselves up.
Of the 700 women surveyed, 40 percent said depression was an excuse to overspend; 60 percent said "feeling a bit low" was a good enough reason.They are wrong. Browsing is one thing. Buying is another.
"This type of spending, or compensatory consumption, serves as a way of regulating intense emotions," said Karen Pine, a University of Hertfordshire professor and author of "Sheconomics" (Headline Publishing Group, 2009).What's wrong with sex – if you're married, or exercise or a non-destructive hobby?
The problem is likely not confined to women.They have to throw that in to avoid charges of sexism.
A 2006 study in the United States found 6 percent of women have it so bad they are labeled compulsive buyers, but so are 5.5 percent of men.So more than one out of every 20 people you come across is labeled a compulsive buyer. What about the people who aren't labeled "compulsive" but either are compulsive or are otherwise buying stuff they don't need or can't afford? Does anyone believe that just as many men fall into that category?
Pine says this compensatory behavior could become more pronounced in a recession. People use drugs and alcohol similarly to regulate emotions, Pine explains, but she thinks shopping is increasingly employed by women for this purpose. And, paradoxically, worrying about money could lead women to spend more, she said.I'm sure if any single guy is reading this, he'll feel really motivated to find a woman with whom to join finances.
"Or, perhaps worse still, if they can't spend we might see an increase in mental health problems such as anxiety and depression."Oh, great. You get to choose between dealing with more debt or more emotional difficulty.
One of the things I think a couple should do when a marriage proposal seems eminent is get full access to each other’s financial records – credit report, credit card statements, bank statements, investment accounts, etc. That will make it easier to tell if there is a spending problem, or any number of other problems. Full disclosure should be a stipulation of the pre-nup.
The article could have just as easily read "Men Seek Out More Prostitution During a Recession". I feel this was more of a personal attack on women than a valuable opionion by someone whose opinion I usually respect.
ReplyDeleteIn agreement, potential newlyweds should indeed be aprised of their mates financial situation prior to wedding.
Lisa,
ReplyDeleteThanks for your comment. I was working from the article, which had no mention of prostitution. I wouldn't be surprised if a significant number of men gamble more in a recession, too.
This wasn't an attack on women - it was an attack on financially irresponsible women. I know my tone and choice of content can come across as an attack on women... I make no secret of this blog being a male perspective. I have never dated a man. If you want to know what a lot of men are thinking, this is one place to get some of that. So many other places men basically hide what they REALLY think, and tell women what they think the women want to hear.
I do not approve of degenerate gambling on the part of men, or using a prostitute to fornicate. I believe sex is for marriage, so that rules out prostitution being okay. Even for a godless person who sees no problem with sex outside of marriage, I point out that prostitution is usually a waste of a man's money, as if he just wants sex from a woman, there are so many women who will engage in sex with guys who are essentially strangers, with little or no time/money invested.
The only reason a guy "should" be be a john these days is if he was some sort of fetish or unusual fantasy (including getting off on being a john), or if he is rich/famous/powerful and just wants sex and has a hard time getting rid of his "dates" because the want to latch onto him and ride his coattails.
Again, I don't excuse the flaws of men, and I don't condone fornication. But I also will not ignore wasteful spending in women.