Men more proactive on finances
Australian men are more likely to review their budgets with respect to resetting their mortgage and other financial arrangements than their female counterparts, according to new research released by Mortgage Choice.
However, the same research found that men were less likely to cut back on their spending or pay off their credit cards.
Commenting on the research, Mortgage Choice spokesperson Kristy Sheppard said it was concerning that the company’s annual Consumer Sentiment Survey had found less than half of Australia’s female property borrowers intended to make adjustments to their personal finances this year.
“Everyone with a large debt commitment should review, at the very least, that commitment and their budget every year,” she said.
The survey suggested that males tended to be the more financially proactive gender with 61 per cent of those with home loans planning to make personal finance changes this year, up from 45 per cent last year.
AUTHOR
Mike Taylor
Recommended for you
With an advice M&A deal taking around six months to enact, two experts have shared their tips on how buyers and sellers can avoid “deal fatigue” and prevent potential deals from collapsing.
Several financial advisers have been shortlisted in the ninth annual Women in Finance Awards 2025, to be held on 14 November.
Digital advice tools are on the rise, but licensees will need to ensure they still meet adviser obligations or potentially risk a class action if clients lose money from a rogue algorithm.
Shaw and Partners has merged with Sydney wealth manager Kennedy Partners Wealth, while Ord Minnett has hired a private wealth adviser from Morgan Stanley.
