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(PRLEAK ) November 4, 2009 – Women are at the rougher end of the stick when it comes to credit card debt, especially when they start out on their career. In an analysis conducted by Consolidated Credit Counseling Services, Inc., the nation\'s foremost national debt counseling organization, it was found that a large percentage of single women in the age group of 25-34 sought credit as compared to men in the same demographic group. This was mainly attributed to the fact that women tend to spend much more on clothing and personal care items.
According to Howard Dvorkin, CPA and president of Consolidated Credit Counseling Services, Inc. men can easily get away with a smaller wardrobe, while women find it necessary to spend more in order to climb the corporate ladder. Even though household and some other expenses can be shared, women are very conscious about their wardrobe. Another reason for increased debt is the fact that women earn less than men do all across the board.
The Bureau of Labor Statistics (BLS) supports this in a survey which concluded that young single men spent $1,426 on clothes and $234 on personal care items per year. On the other hand, women spend $1,763 on clothing and $740 on personal care products. This is in spite of receiving a lesser salary of almost $3,000 each year. In 2008, women on an average earned 77% of what men earned, which was a mere 20% rise since 1979.
Mr. Dvorkin reiterated the fact that spending more on a lesser income can only result in debt. However, during this recession male-dominated jobs have been more affected. Women have a lower unemployment rate of 7.3% as compared to men with a 10.3% unemployment rate. To help women overcome this problem, Consolidated Credit Counseling Services, Inc., has published a free booklet titled Women and Money. This short guide provides women with an insight on money matters.
About Consolidated Credit Counseling Services Inc.
Consolidated Credit Counseling Services Inc. is a ISO 9001 company that offers credit counseling and debt management programs throughout the United States. For more information about the company and their services log on to www.ConsolidatedCredit.org.
According to Howard Dvorkin, CPA and president of Consolidated Credit Counseling Services, Inc. men can easily get away with a smaller wardrobe, while women find it necessary to spend more in order to climb the corporate ladder. Even though household and some other expenses can be shared, women are very conscious about their wardrobe. Another reason for increased debt is the fact that women earn less than men do all across the board.
The Bureau of Labor Statistics (BLS) supports this in a survey which concluded that young single men spent $1,426 on clothes and $234 on personal care items per year. On the other hand, women spend $1,763 on clothing and $740 on personal care products. This is in spite of receiving a lesser salary of almost $3,000 each year. In 2008, women on an average earned 77% of what men earned, which was a mere 20% rise since 1979.
Mr. Dvorkin reiterated the fact that spending more on a lesser income can only result in debt. However, during this recession male-dominated jobs have been more affected. Women have a lower unemployment rate of 7.3% as compared to men with a 10.3% unemployment rate. To help women overcome this problem, Consolidated Credit Counseling Services, Inc., has published a free booklet titled Women and Money. This short guide provides women with an insight on money matters.
About Consolidated Credit Counseling Services Inc.
Consolidated Credit Counseling Services Inc. is a ISO 9001 company that offers credit counseling and debt management programs throughout the United States. For more information about the company and their services log on to www.ConsolidatedCredit.org.