Is Debt More Dangerous For Women Than Men?
Modern women have never had it so good…. Or maybe things have never been so bad… For many of them the freedoms and choices have led to them struggling to keep their jobs, holding onto their homes, keeping their family in one piece and settling credit card debt…
Opportunities for women have grown enormously in education, job opportunities or whether or not to have a family. Their opportunities appear to be endless…
It seems incredible that as recently as the 1970s women weren’t permitted to apply for a home loan. It’s only during the last 30 years that most women’s life opportunities extended beyond being a wife and mother. Their financial well being and security was based on their husband’s success in life.
Increases in choice and opportunity come with increased responsibility, including that for taking care of personal finances in face of the endless sources of credit that’s available. Unfortunately many women have behaved like kids in a sweet shop, taking the credit sources by storm and spending money like water…
How has this over indulgence with credit cards turned out?
Well, it’s turned out that these well educated women, have amassed enormous levels of debt that is going to take years to pay off…
Women who are now debt ridden were drawn into the hype of easy credit. They couldn’t avoid the daily onslaught from advertisers who continually pushed the dream of having anything you wanted…
Want a sofa? Don’t wait… You can have it now… Don’t even worry about paying for it… Well, not for a year or so anyway… It’s all so easy – too easy!
What discipline was needed to resist this sort of temptation…
You didn’t have to think of doing without anything for your new house… Why should you? You could have anything you wanted, instantly by handing over a credit card or signing on the dotted line. You’d acquired your new furniture and yet another debt.
Women haven’t done without any other luxury items – clothing, shoes, cosmetics, exotic trips, fantastic social activities… Looking good and feeling good were the most important things… It was considered their right… Women wanted it all and were determined that they were going to have it all… And the consequences? They weren’t even considered…
Now it has all come home to roost with many women having massive amounts of debt to repay. The levels of debt are horrifying…
Debt levels of women are far greater than the debts accrued by men and an additional problem is that men’s earning levels are generally higher. Women’s financial predicament is very serious, leaving them embarrassed about the mess in which they’ve found themselves and reluctant to face the disturbing truth…
If you have financial problems the earlier they are addressed the more simple the solution. Professional debt organisations can offer invaluable advice to alleviate your moeny problems.
Help is essential in the areas of budgeting and controlling spending. You’ll be advised to ditch your credit cards and face reality about your financial limitations…
You’ll have to accept a more frugal few years to become financially healthy… You can do it!
If you have a problem managing your finances pay a visit to puttling Credit Card Debt For Good where you can access valuable, free advice and guidance to help you source the right financial products to put your finances onto the right track.