The mystery of credit card debt

Who could possibly fathom the mystery?

A 2015 National Debt Relief survey of 1,107 adults with credit card debt revealed some interesting differences between the sexes. In the survey, the main difference between men and women was the amount of credit card debt they carried.

For instance, 63 percent of women ages 18 to 24 carried some credit card debt, but only 36 percent of men in that age category had any debt. Similarly, 66 percent of women ages 55 to 64 carried credit card debt, but only 33 percent of men in that age bracket had credit card debt.

So why the split, and what can women do about these troubling statistics?

Adam Tijerina, consumer advocate for National Debt Relief, says several potential reasons for this gender gap exist. However, he speculates that the most likely culprit is that women are still paid less than men.

The reason is obvious. Women have a not entirely unreasonable expectation that they can expected to have their debt paid off by a man at some point in the future, so their risk tolerance is higher in this regard.

Which, of course, is exactly why men need to make it clear that they will not involve themselves with women who are heavily indebted.

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