New -- IWillTeachYouToBeRich survey on gender and money -- with gender differences highlighted

©2007. Facilitas, Inc. All Rights Reserved.

Survey Results: Gender and Finance

• 1,167 respondents were surveyed from http://www.iwillteachyoutoberich.com for their attitudes on gender and finance

• I Will Teach You To Be Rich is a blog on personal finance and entrepreneurship for college students, recent college grads, and everyone else.– Featured in the New York Times, Wall Street Journal, and

more– Contact: [email protected]


Gender

64%

36%

Male Female

“I am a…”

Base: 1,167 respondentsSource: Aug. 24, 2007 survey posted on www.iwillteachyoutoberich.com


Age

0 10 20 30 40 50

Under 18

18-24

25-31

32-38

39-45

46-52

53-59

60+A

ge

Percent


4%

7%

15%

44%

29%

1%

“My age is…”


0 5 10 15 20

Below $20,000 USD/year

$20,000-$30,000/year

$30,000-$40,000/year

$40,000-$50,000/year

$50,000-$60,000/year

$60,000-$70,000/year

$70,000-$80,000/year

$80,000-$90,000/year

$100,000+/year

Inco

me

(US

D)

Percent

Personal income


16%

5%

8%

12%

12%

“My personal income level is…”

11%

12%

9%

16%


0 5 10 15 20

below $20,000 USD/year

$20,000-$35,000/year

$35,000-$50,000/year

$50,000-$65,000/year

$65,000-$80,000/year

$80,000-$95,000/year

$95,000-$110,000/year

$110,000-$125,000/year

$125,000-$140,000/year

$140,000+/year

Inco

me

(US

D)

Percent

Household income


16%

4%

8%

8%

12%

“My household income level is…”

14%

14%

8%

6%

7%


0 10 20 30 40 50

Some high school

High school diploma or GED

Some college

Associate's degree

Trade school degree

Bachelor's degree

Some graduate school

Master's degree

PhD

Professional degree

Hig

hes

t le

vel

of

edu

cati

on

Percent

Education level


4%

2%

9%

46%

1%

“My highest education level is…”

3%

13%

4%

1%

17%


0 10 20 30 40 50

I have no debt

Other debt

A personal loan

A car loan

Consumer debt

A mortgage

Student loans

Typ

e o

f d

ebt

Percent

Q1

Base: 1,171 respondentsMultiple responses accepted

Source: Aug. 24, 2007 survey posted on www.iwillteachyoutoberich.com

25%

6%

7%

28%

33%

“I have the following types of debt”

41%

28%

38% 45%

36% 29%

26% 32%

30% 25%

7% 7%

6% 7%

26% 24%

Male Female

Response by gender


Q2

64%9%

27%

“I am in charge of the finances for my household.”


All Male Female

True 64% 69% 58%

False 9% 9% 9%

I share financial responsibility 27% 23% 34%


Q3

24%

53%

23%

“I have problems maintaining a budget.”


All Male Female

True 24% 22% 27%

False 53% 55% 48%

I don’t budget 23% 23% 24%


Q4

24%

39%

37%

“I negotiate my salary.”


All Male Female

Always 24% 28% 19%

Sometimes 39% 40% 39%

Never 37% 33% 43%


0 10 20 30 40 50

Social life

Other

Family

Careerdevelopment

Personaldevelopment

Pri

ori

ties

Percent

Q5


5%

3%

26%

“My main priority is…”

39%

27%

40% 38%

27% 26%

25% 27%

5% 6%

3% 3%

Male Female

Response by gender


0 10 20 30 40 50 60 70

Transport

Fashion

Other

Housing

Gifts

Household items

Travel

Drinking/Entertainment

Electronics

Food

Ind

ulg

ence

s

Percent

Q6



63%

9%

9%

12%

15%

“My indulgences tend to be…”

40%

37%

42%

7%

6%

60% 69%

54% 23%

42% 35%

33% 43%

11% 22%

9% 18%

9% 9%

8% 11%

4% 13%

8% 3%

Male Female

Response by gender


0 10 20 30 40 50 60

Excellent

Good

OK

Not well

Poorly

I rarely or never handle financialmatters

Ho

w w

ell

at h

and

lin

g

fin

anci

al m

atte

rs

Percent

Q7


<1%

2%

7%

“How do you think you handle financial matters?”

25%

50%

17%

<1% <1%

1% 3%

6% 8%

23% 28%

52% 46%

18% 15%

Male Female

Response by gender


Q8

25%

75%

“Do you ever ignorefinancially unpleasant information?”


All Male Female

Yes 25% 23% 30%

No 75% 77% 70%


0 5 10 15 20 25 30

Overwhelmed

In a little too much

It doesn't worryme

I only have "good"debt

I have no debt

Fee

lin

gs

tow

ard

s d

ebt

Percent

Q9


25%

22%

26%

“How do you feel about your debt?”

23%

4%

25% 25%

24% 19%

26% 26%

22% 24%

3% 7%

Male Female

Response by gender


0 10 20 30 40 50 60

Depression

Indifference

Exhilaration

Confusion

Apprehension

Anxiety

Confidence

Fee

lin

gs

tow

ard

s m

on

ey

and

fi

nan

cial

mat

ters

Percent

Q10



9%

4%

53%

“What are your feelings towards money and finances?”

10%

19%

23%

6%

58% 44%

18% 33%

15% 26%

8% 14%

9% 7%

8% 3%

3% 6%

Male Female

Response by gender


Q11

14%

67%

19%

“Would you prefer to have a significant other to provide for you?”


All Male Female

Yes 14% 14% 14%

No 67% 71% 62%

It depends 19% 16% 24%


Q12

10%

31%

29%

30%

“Do you donate to charity?”


All Male Female

Time 10% 9% 12%

Money 31% 30% 32%

Both 29% 27% 34%

Neither 30% 35% 22%


0 20 40 60 80 100

Shopping

Ethics

Net worth updates

Success stories

Entrepreneurship

Money mistakes

Frugality

Savings

Investing

To

pic

pre

fere

nce

s

Percent

Q13



78%

22%

44%

47%

53%

“I prefer the following personal finance topics”

58%

72%

20%

14%

83% 70%

69% 79%

53% 67%

52% 54%

54% 36%

42% 47%

24% 19%

19% 22%

10% 20%

Male Female

Response by gender


0 5 10 15 20 25 30 35

A work relation

Another relative

A significant other

A friend

A professional PF writer

A personal finance blogger

other

My mother

My father

Fin

ance

in

flu

ence

Percent

Q14



30%

5%

6%

6%

11%

“My biggest finance influence was …”

14%

22%

4%

2%

33% 25%

18% 29%

14% 15%

12% 9%

7% 5%

7% 4%

4% 8%

4% 4%

3% 2%

Male Female

Response by gender


0 20 40 60 80 100

Other

A Financial Advisor

Finance periodicals

Finance newspapers

Finance books

Regular newspapers

Conversations with peers

Finance websites

Finance blogs

Fin

ance

med

ium

s

Percent

Q15



78%

16%

18%

30%

34%

“I keep up with financial topics through the following mediums”

41%

51%

8%

5%

76% 80%

57% 41%

43% 37%

33% 35%

32% 27%

22% 13%

18% 13%

8% 7%

4% 7%

Male Female

Response by gender


0 20 40 60 80 100

Charity or gifts

Providing for a relative

My business

Material goods

Education for my dependents

Education for myself

Real Estate

Travel

Retirement

Fin

anci

al p

rio

riti

es

Percent

Q16



77%

20%

20%

22%

24%

“What are your financial priorities?”

37%

40%

16%

10%

76% 78%

33% 52%

36% 38%

21% 28%

22% 21%

19% 22%

23% 15%

17% 14%

9% 14%

Male Female

Response by gender


Q17

17%

33%

23%

14%

13%

“I feel confident in my current level of retirement planning”


All Male Female

Very true 17% 19% 13%

True 33% 33% 32%

OK 23% 24% 22%

Unsure 14% 13% 15%

False 13% 10% 18%


0 20 40 60 80 100

Relatives

My business

A pension

Real Estate

Social Security

Working

Investments

A 401(k) or equivalent self-funded retirement account

Ret

irem

ent

reso

urc

es

Percent

Q18



78%

14%

14%

17%

25%

“I am relying on the following for my retirement:”

38%

61%

3%

76% 81%

68% 48%

38% 37%

23% 28%

19% 13%

14% 14%

17% 8%

3% 4%

Male Female

Response by gender


Q19

63%

36%

1%

“I believe the pay of women compared to men doing equal work is...”


All Male Female

Less 63% 52% 81%

Equivalent 36% 47% 18%

More 1% 1% <1%%


Q20

70%

30%

“Do you feel that women are expected to buy clothes, purses, makeup, etc.?”


All Male Female

Yes 70% 64% 79%

No 30% 36% 21%


Q21

29%

71%

“Do you feel that women are discouraged from talking about money?


All Male Female

Yes 29% 24% 37%

No 71% 76% 63%


Q22

52%48%

“Do you feel that women have a harder time saying no than men?


All Male Female

Yes 52% 42% 70%

No 48% 58% 30%


Q23

20%

23%57%

“Do you feel that men or women worry more about money issues.”


All Male Female

Women 20% 15% 28%

Men 23% 32% 8%

They worry equally 57% 53% 64%%


• Questions? Contact Ramit Sethi ([email protected])

New -- IWillTeachYouToBeRich survey on gender and money -- with gender differences highlighted

Business

respondents source

age base

survey results

q1 base

q6 base

q5 base

q7 base

personal income base