Who’s more financially health, men or women?

There is some major disparity between the financial responsibility and strength of men and women

Who’s more financially health, men or women?
There is some major disparity between the financial responsibility and strength of men and women.

A study of millennials by LendingTree reveals that women are behind men in income, home ownership and financial satisfaction; even though they appear to have a better attitude to finances.

Students loans play a big part in the equation with women struggling more than men.
Women average $14,758 in student loans while men have almost half at $8,500.

Overall debt for millennial men averages $53,107 while women owe $68,834 – 30% less!
Perhaps due to the lower amounts, men are generally more confident in their ability to pay down debt than women, scoring 3.67 on a scale of 1-5 (5 is most confident) compared to 3.31 for women.

Men are also more satisfied with their financial situation than women (3.4 vs. 2.99 on a 5-point scale) with women more frustrated (22.74%) with their debt than men (17.24%). A fifth of men said their debt actually made them feel more confident compared to 13.8% of women.

When income inequality is considered, it’s easier to understand the differing views of the genders. Of the men surveyed, 57.3% have an income greater than $50K, while just 42.11% of women do.

Men are more likely to own their home (56%) than women (44%) although a previous LendingTree study found women are more likely to be living with friends or family rent-free.
Women do win on credit scores with an average of 666 compared to 661 for millennial men.

On priorities for the next 12-24 months, women are more focused on savings while men want to increase income.