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A Scarcity of Women Leads Men to Spend More, Save Less

January 19, 2012
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University of Minnesota Research Finds Sex Ratios Influence Financial Decisions
MINNEAPOLIS / ST. PAUL (01/12/2012) —The perception that women are scarce leads men to become impulsive, save less, and increase borrowing, according to new research from the University of Minnesota’s Carlson School of Management.

“What we see in other animals is that when females are scarce, males become more competitive. They compete more for access to mates,” says Vladas Griskevicius, an assistant professor of marketing at the Carlson School and lead author of the study. “How do humans compete for access to mates? What you find across cultures is that men often do it through money, through status and through products.”

To test their theory that the sex ratio affects economic decisions, the researchers had participants read news articles that described their local population as having more men or more women. They were then asked to indicate how much money they would save each month from a paycheck, as well as how much they would borrow with credit cards for immediate expenditures. When led to believe women were scarce, the savings rates for men decreased by 42 percent. Men were also willing to borrow 84 percent more money each month. read complete article

Budget Tip of the Week

January 11, 2012
By

Start saving early, even if you can only save a little.

Paying for a warranty

December 16, 2011
By

Our years of surveying consumers have confirmed that extended warranties for most electronics and household appliances aren’t worth the money. When breakdowns occur within the warranty period, the average cost of repair isn’t much more than the warranty price.

For computers, however, a plan that extends technical support as well as coverage for repairs might make sense if your gift recipient needs hand-holding after the free factory support expires, usually after a year. And a plan that covers theft or accidental damage might be worth considering for a laptop, netbook, or tablet.

Some credit card issuers, notably American Express, offer free extended warranty protection on products purchased with their card.

Source: Consumer Reports Magazine

Bargain Hunters, Hold That Click New York Times 9/28/11

October 29, 2011
By

New York Times 9/28/11

ON Gilt.com, where shoppers vie for limited-time discounts on designer brands, a Kate Spade cabana-stripe medium tote bag was recently $169, plus $5.95 shipping. That same day, the bag was on KateSpade.com for $130 with free shipping about $45 cheaper.Read More

 

Five Warnings for Credit Card Co-Signers

October 18, 2011
By

Fox Business
With the potential for complications, personal and financial, “there are too many downsides,” he says. Even good character is no guarantee, says Todd Mark, vice president of education for Consumer Credit Counseling Service of Greater Dallas.Read More

 

How to Avoid Bank Fees

October 18, 2011
By

Fox Business
“The $3 activity fee will be charged only once a month when customers make a purchase or payment using their personal or business debit card, check card or ATM card linked to their Wells Fargo business or personal checking account opened in Georgia. Read More

 

 

The Twentysomething’s Guide to Money

October 18, 2011
By

U.S. News & World Report
The key, according to personal finance experts, lies in prioritizing all of those competing demands for money. Here’s a road map to help sort it all out: Spending. First jobs come with unavoidable start-up costs, such as a new suit and possibly wheels. Read more

 

Grave robbers and identity theft

October 18, 2011
By

NEXT
There are many personal and financial documents that must be found and secured immediately after a loved one’s demise. Their home should be quickly secured to ensure that important documents such as bank statements, title documents, check books, Read More

 

4 Misleading Pieces of Personal Finance Advice

October 18, 2011
By

U.S. News & World Report
By David Ning There are a few pieces of seemingly fail-proof advice that personal finance experts like to give when they are asked about important habits you should develop to retire well, but blindly following them can still get you in trouble. Read More

 

NCAA Rules Trap Many College Athletes in Poverty

October 18, 2011
By

DailyFinance
By Sheryl Nance-Nash Posted 4:00PM 09/13/11 Special Report, Personal Finance College football and basketball players are getting played instead of getting paid: Though they bring in the big bucks for their institutions of higher learning, Read More

 

 

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