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Monday, June 8, 2009

Do Women Handle Money Different Than Men?

From CNNMoney: Women, men and money

When it comes to managing money, women worry a lot more than men do -- and women are more likely to ask for help with their money problems.

That's the gender gap described in a recent report by Financial Finesse, a firm that operates a financial planning helpline as an employee benefit for large companies.

Among the findings: only 53% of women say they have a handle on their cash flow and spend less than they make each month. By contrast, 71% of men made that claim. Only 36% of women say they regularly pay off their credit card balances, compared with 61% of men.

During that time same period, Financial Fineness received more than twice as many helpline calls from women as from men -- 68% vs. 32%. More than 40% of the calls from women concerned debt problems, according to the study, compared with 36% for men. And nearly 30% of the debt related calls involved urgent financial issues, such as foreclosure and bankruptcy.

Do think you handle money differently than your spouse or significant other? Let us know.

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