How do Polish women approach finances? Is there any justification for the widely held view that women are prone to excessive spending? Surveys by The Citi Handlowy Leopold Kronenberg Foundation indicate that not necessarily...
POLISH WOMEN PLAN
The survey "Attitudes of Poles towards Saving" conducted annually by The Citi Handlowy Leopold Kronenberg Foundation shows that 45% of Polish women plan their larger regular expenditures a month ahead of time. This is hardly surprising. The average Polish woman is very busy. Data from the OECD indicates that Polish women devote around 5 hours a day to housework, often combining it with job-related responsibilities. Taking care of their children and homes, developing their careers (Polish women continually strive for self-improvement), and dealing with household finances require excellent organizational skills, goal orientation, and maximum effectiveness in carrying out responsibilities. In comparison, although men work more, when it comes to planning expenditures, they are no match for their wives and partners. A third of them don't do any longer-term planning of regular expenditures.
POLISH WOMEN WATCH THEIR SPENDING
And what about keeping control over spending? It is widely believed that women have a big problem with this. But is this really true? A woman with many household responsibilities, who at the same time works outside the home, cannot afford to be careless with spending. To be sure, she might occasionally engage in impulse buying, but usually without negative effects on the household budget. This is unequivocally confirmed by surveys done by The Citi Handlowy Leopold Kronenberg Foundation: one in ten Polish women admit that they find it difficult to control their spending, while 40% say they are careful with even the smallest expenditures. What about men? In comparison with women, the percent of men who acknowledge lack of control over their own spending is twice as high (22%).
POLISH WOMEN ARE RESPONSIBLE
Polish men and women both have a high sense of responsibility when it comes to repayment of debts. Nearly two-thirds of women and over half of men make their payments on time. Much the same applies to saving: both men and women believe that saving is not only necessary but worthwhile. But they have different approaches to the question of how to build up savings. According to men, the best way to manage one's finances is to keep money at home. Women, on the other hand, prefer to put money in time deposits. Men also trust themselves more when it comes to investing (39%), while women are influenced by the opinions of family members and friends. With regard to saving itself - 10% of men and women alike set aside money on a regular basis.
Figures from The Citi Handlowy Leopold Kronenberg Foundation survey "Attitudes of Poles towards Saving":
- 45% of women surveyed plan their regular expenditures a month in advance,
- 31% of men don't plan any regular expenditures a month in advance,
- 13% of women and 22% of men admit that they don't plan their expenditures,
- 40% of women are careful with even the smallest daily expenditures,
- 60% of women and 55% of men make their debt payments on time,
- 19% of men and 12% of women believe that the best way to deal with financial surpluses is to keep cash at home.
* http://www.oecdbetterlifeindex.org/topics/work-life-balance/
