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
Far too few wealth managers are capitalising on the opportunity presented by disruptive technology to deliver personalised investment solutions to the mass affluent demographic, according to PwC.
With over half of advisers using managed accounts, HUB24’s head of managed portfolios has unpacked the benefits driving their usage and how they can be leveraged by advice practices.
The FSCP has announced its latest verdict, suspending an adviser’s registration for failing to comply with his obligations when providing advice to three clients.
ASX-listed platforms HUB24, Netwealth, and Praemium have used their AGMs to detail how they are using artificial intelligence to improve their processes and the innovative opportunities it presents.
