Rise in bankruptcy among young women. Sadly it's not the moral kind.

10 July 2009

http://img197.imageshack.us/img197/2092/islafishershopaholic113.jpgAre women shopaholics? Are they really better at spending hard-earned sheets than men? Top 25 accountancy firm Wilkins Kennedy says yes. A study of young adults under age 25 revealed that most bankruptcies are declared by women (55%). This, according to Anthony Cork, the director of Wilkins Kennedy, is most likely explained by "celebrity lifestyle aspirations".

Mr. Cork attributes much of this gender gap to "pressure on young women to follow the lavish lifestyle of female celebrities like Victoria Beckham and Paris Hilton." These apparent "role models" make young women who don't know any better think "designer clothes and jewellery [are] misleadingly achievable."

But have Wilkins Kennedy considered that perhaps instead of spending habits, it's the persistent male-female wage gap that has something to do with it? Figures from April 2005 showed that overall, women working full-time earned on average 17.2% less than their male counterparts.

But whether you are male or female, the big takeaway should come down to one basic principle - spend less than you earn. Stop burying yourself in debt (spending more than you earn) or living pay cheque to pay cheque (spending exactly what you earn). Eliminate your debts, start saving, and have the discipline and diligence to go through your spending and bills. Alright... you can first buy that Jimmy Choo Mahala handbag at half price for £1,211 we know you've been eyeing. Bargain!

9 comments

  • cLoWnS
    The wage-gap is simply a reflection of the fact that men are a minmum of 17.2% better then women at anything. Really, this is hardly news-worthy.
  • bawbag
    If woman were paid for the only things they do well, i.e. cleaning, ironing, servicing men etc then I'm sure the wage gap will narrow.
  • Craig
    LOL @ cLoWnS
  • Smarties
    Pity they can't extend this 17.2% superiority in the kitchen, bathroom or even the bedroom..
  • Mary s.
    Us lazy bitches NEED money for ladeeees things like tampax and femfresh, without such things my minge would look & smell like a roadkill ;)
  • James
    45% Men and 55% Women.....hardly significant!
  • Jeffrey A.
    Not newsworthy. Everyone knows that girls are shit with money. The amount of times I had to bail my ex out because she had the 'I want it so im buying it whether i can afford it or not' attitude was unbelievable. Almost every girl I know is basically shit with money. Three of them in our office are on IVA's and still buy clothes etc off of the Internet at least every week. And theres another on half my wage, who has 2 children, single mum, yet somehow affords to go out every weekend, just bought a new mini, etc. But is now moaning she's in huge debt? wtf. Girls fail.
  • Chief J.
    Yes Jeffrey ^^^^^, BUT they won't be jailed for being guilty of perjury and perverting the course of justice like you did. Your just jealous you didn't get away with it you lying cheating little turd :)
  • No r.
    Well i'd like her to blow me good before I give her my credit card balance to blow. earn your way be'aches :)

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