Women and Personal Debt: An Example

Personal debt in the United States currently stands at $18.2 trillion. This does not include the United States’ national debt which “represents the face amount or principal amount of marketable and non-marketable securities currently outstanding.” Instead, personal debt includes mortgage debt and consumer debt, such as car loans and credit card debt.

Women account for 70 to 80% of consumer spending while influencing 91% of all home purchases. Seventy-five percent explain that they are the primary shoppers.

I will add that the statistics likely include necessities as Raging Golden Eagle explains. Well, necessities still cost money. Farmers need to live, as well.

One can reasonably assume that the majority of the $18.2 trillion in personal debt is owned by women because of this leverage. Using the consumer spending percentages, as this presumably accounts for all women such as single women, married women, women homeowners, women non-homeowners, and so on, they account for $12.74 trillion to $14.56 trillion of personal debt.

This, of course, would be more if one looks at just general influence. I’ll give the benefit of the doubt by reasoning that their partners adamantly acquiesce to them should they have one. It’s sort of difficult to discern what influence means in the context of a home purchase because a single woman can own her own home and, therefore, make all of the purchasing decisions. In such a case, does the definition extend to include the woman influencing herself to purchase, or did this survey only target married women? I don’t believe feminists will like the latter answer all that much if that is the case.

Nevertheless, I wish them well in paying all of it back themselves.

Sources

http://www.usdebtclock.org/

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