Women spend less than men in nearly every category of credit card expenditure, including online shopping, says First National Bank.<\/p>\n
Women are also more conscientious about paying off their card when compared to men, the bank’s credit card division has revealed.<\/p>\n
\u201cThere is a common misperception that women tend to overspend on credit cards, especially on non-essential items such as retail shopping; however, data shows that their male counterparts’ spending far outweighs women\u2019s – and (men) are less responsible when it comes to paying off their cards,\u201d said Chris Labuschagne, CEO of FNB Credit Card.<\/p>\n
Men spend on average 32% more on food and retail than women, with an average of R470 a month. They spend as much as 60% more on fuel than women.<\/p>\n
On average, women spend R384 every time they fill up their tanks, compared to men who spend R428 on each refill, the bank said.<\/p>\n
Read: One graph shows how bad South Africa\u2019s consumer debt is<\/a><\/strong><\/p>\n Surprisingly, according to FNB Credit Card data, men outspend women on online shopping by 30%, with an average R988 per month compared to women\u2019s R749.<\/p>\n \u201cRetail shopping used to be perceived as the domain of women, but men have definitely taken the lead in terms of online shopping,\u201d said Labuschagne. \u201cThis makes sense as online shopping is easy, safe and can be done from the comfort of your home.\u201d<\/p>\n The one category where women do spend more than men is on groceries; however despite visiting grocery stores 35% more than men, women only spend 15% more.<\/p>\n Read: How many South Africans can survive a R10,000 financial emergency<\/a><\/strong><\/p>\n Other places that men outspend women on their cards include restaurants, visiting fast food outlets, coffee shops and restaurants, spending on average 35% more. They are also big spenders when it comes to TV and movies, spending on average 61% compared to women.<\/p>\n \u201cWomen, in general appear to be more responsible when it comes to their finances,\u201d said Labuschagne.<\/p>\n While credit card arrears levels are low, men are twice as likely to skip a payment when compared to women, the bank said.<\/p>\n FNB just launched a bank branch made out of a shipping container<\/strong><\/a><\/p>\n FNB reveals new-look branches with free Wi-Fi<\/strong><\/a><\/p>\nMore on FNB<\/h3>\n