Google+ Consumer Psyche: Can't buy? Borrow!


Sunday, January 4, 2009

Can't buy? Borrow!

TOI Reports that young men are the worst spenders. The men spent some 28% more than the fairer sex and ended up in debt more often. The study was conducted by a debt collection company called Dun & Bradstreet which observed the attitude towards debt and the purchasing behaviour of both men and women. It also advises that in the present situation its always advisable to spend less and keep a rein on those purchasing sprees. The study does not mention as to what were the items bought and for whom. Is there a chance for the women to buy on the man's bill? Are men's purchases for the family (read wife, children, parents, groceries, etc. which are paid by the plastic) counted as his purchases?

I agree with the advise about the holding the rein idea. As my Dad always says: "Never borrow, never lend."

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