Nearly 90% of shopaholics are women and one of the signs that we can easily recognize is that after shopping they feel satisfied and happy. According to a survey, 1 in 10 women cannot resist their desire to shop, especially if they hold a credit/debit card or ewallet. Of course they (women) have many reasons, such as shopping as a reward for themselves, when they are in a bad mood, sad or lonely, FOMO or fear of losing discounts, anxiety or losing something if they don't shop, the convenience of using a credit card does not have to match and the balance of money at the bank. What do you think?
Why Are Women Easily Trapped in Credit Card Debt?
- Thread starter Suba
- Start date
Honestly, most women are habitual money wasters. And the most painful is that all those clothes or apparels will not be use properly. In most occasion, women will love to have every piece of trending wears.
I think both genders may get trapped in credit card debt easily if they have no self discipline.
- Thread starter
- #4
I'm only based on statistics, so it's not just fiction, or just a personal opinion, you can also check the statistics about shopaholics in your country, to prove it.
The studies have shown a significant number of women identify as shopaholics and there are various reasons for this, such as seeking happiness, feeling sad or lonely, fear of missing out on discounts, and the ease of using credit or debit cards. It's important to note that everyone is unique and may have different motivations for their shopping behaviors.
It is not only women that abuse the use of their credit card as I believe that a lot of men also faced the same challenges as well which is why I don't use my credit card very often.
Rising generations tend to waste more on purchasing for themselves, rather than budgeting it out, as most parents don't make it a priority to make sure that their kids know how to budget, based on needs, wants and living situations. That is a big thing with it. Young women tend to waste the most, because they think that family will bail them out when they don't have money to spend. Same with some young men, but not as much on the same scale.
My 18 year old niece still likes to spend as much as possible, and very rarely takes her actual money she has into account.
My 18 year old niece still likes to spend as much as possible, and very rarely takes her actual money she has into account.
- Thread starter
- #11
Yes of course there are men who like to shop with a credit card and waste buying things they don't need, but the comparison will be more women, the easiest example is men's shirts almost all over the world have the same style.
I saw a study where it said that 75% of world consumption was by women, I do not know if this was true, but if it were I would not be surprised by these statistics that you left, I do not understand why it may be, but it really is something to worry about if you have a money waster woman or you are.
Woman are easily trapped in such circumstances, especially those who have high taste for fashion
Yes, some women are compelled to shop for a variety of reasons. I used to waste cash on unnecessary purchases. I did it as a form of distraction, to temporarily forget about my problems.
Women are generally emotional and this attribute leads them to be doing impulsive spending. They are moved by feelings and would plunge themselves further and further into debt.
I do agree that men can also do this. I am not generalizing to women only. I think I indicated that both genders will have such a mistake for maxing out their credit cards without restrictions.
