Hervey Bay Independent : 5th March 2015
Men vs women: who wears the financial pants? Mortgage Choice survey reveals savings habits of both sexes in QLD It is the age old question: which gender controls the household finances? According to Mortgage Choice’s inaugural 2014 Money Survey, Queensland men and women are largely divided when it comes to answering this question and determining who manages the household finances. Of the Queenslanders surveyed, 67.4% of males believe they control the finances in their household, while 75.7% of women believe they run the show – making it clear that each gender believes they are the primary decision maker in their household. Mortgage Choice franchisee and Mortgage Broker Peta Short said while it is impossible to say with any surety which gender actually controls the finances in Queensland households, it is clear men and women handle their finances in very different ways. “Men tend to save a larger portion of their regular income, with 32.6% of Queensland males indicating they save between 16% and 30% of their monthly paycheck. By comparison, 49.5% IMPORTANT INFORMATION This article is for general information purposes only. It has been prepared without considering your objectives, financial situation or needs. You should, before acting on the advice, consider its appropriateness to your circumstances. ABOUT MORTGAGE CHOICE Australia’s largest independently-operated mortgage broker, Mortgage Choice has sourced a home loan for well over 350,000 people since 1992. It works with all manner of property finance borrowers via hundreds of franchises. The company writes almost one in every 20 home loans in Australia by providing professional guidance on, and choice of, products offered by an extensive panel of leading lenders. Many of its brokers provide a broader service, helping customers source commercial and personal loans, asset finance, deposit bonds and risk and general insurances. Uniquely, Mortgage Choice pays its franchisees the same commission rate for home loans they write, regardless of rate paid by the lender a new customer selects, working in the customer’s best interests to tailor a solution to them. If you want to learn more about your home loan options, call Peta’s team on 4124 7822 in Hervey Bay and 4123 5022 in Maryborough Visit www.mortgagechoice.com.au/peta.short or www.facebook.com/petashort A new Real Estate Agency has opened in Hervey Bay! of women save less than 15% of their regular income,” she said. “Because of this, men tend to have more money in their savings account. Of the Queensland male respondents, 29.4% currently have more than $20,000 in their savings account, while just 25.2% of Queensland women have this much money in their account. On the flipside, more than 46% of women suggest they have less than $5,000 in their savings account in comparison to just 36.9% of males.” But while Queensland men are seemingly better savers than their fairer counterparts, the survey found Queensland females keep better track of their finances. “Of all the Queensland women surveyed, almost 60% say they track their day-to-day spending on a regular basis, reviewing their outgoings at least once a week. By comparison, a significantly smaller portion of Queensland men review their outgoings regularly, with 53.7% tracking their expenses on a weekly basis,” Peta said. “Further, 85.6% of Queensland women said they knew exactly how much debt they currently have, in comparison to 81.1% of men.” Putting the findings of the Survey aside, Peta said there is no right or wrong way for Australians to control their finances as long as they continue to successfully manage their debt. “At the end of the day, it doesn’t matter how often you keep track of your day to day expenses, so long as you are on top of your financial situation, not outspending your means and putting money aside on a regular basis for a ‘rainy day’,” she said. “If you would like more help managing your financial situation or would just like your money to work harder, it may pay to speak with a financial adviser. “An adviser can help you create a financial strategy that is not only perfectly suited to your needs, but allows you to successfully manage your finances both now and into the future.” The company has no balance sheet or funding risk, and consistently delivers strong profits and attractive yields. It listed on the ASX in 2004 (MOC) and is a member of the Mortgage & Finance Association of Australia (MFAA). Recent recognition: 2012, 2011 Australian Broking Awards Major Brokerage of the Year – Franchise; 2012 Australian Broking Awards Best Training and Education; 2012 Australian Broking Awards Best Ethical/Social Responsibility Program; No.1 on The Adviser magazine’s 2012, 2011, 2010 and 2009 Top 25 Brokerages list; 2012, 2010, 2009, 2008, 2006 and 2005 MFAA Awards Retail Aggregator/Originator of the Year; 2011, 2010, 2009 and 2008 10 Thousand FEET Top 10 Franchise list; 2010 Forbes Asia-Pacific Best Under A Billion list. Mortgage Choice holds an Australian Credit Licence: no. 382869, issued by ASIC. Visit www.mortgagechoice.com.au or call customer service on 13 6678. List exclusively with Rory & Amy’s Real Estate and we will supply: A FREE SKIP to help clear out the junk 20 FREE PACKING BOXES to pack up the good stuff 1 FREE LAWN MOW so you can focus on the inside This offer may not suit a unit or tenanted property - so let’s negotiate something else. When? Our Client can choose any time in the period between a successful sale and settlement. Catches? The property must be listed Exclusively with Rory & Amy’s Real Estate at the time of sale. How much? Please phone for a chat. I think you will be impressed. Phone 4125 2001 www.roryandamy.com.au Please note: this offer is only applicable to properties listed EXCLUSIVELY with Rory & Amy’s Real Estate.
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