Women are cutting back more on discretionary expenditures than men in poor economic times according to a new survey conducted by Opinion Research Corporation on behalf of TD AMERITRADE Holding Corporation. Of those who participated in the survey, 86 percent of women reported spending less on elective expenditures compared to 78 percent of men.  When asked specifically about the lifestyle changes that have been made in the past 12 months due to the current economic environment, those surveyed provided the following responses:

  • 58 percent of women are eating out less, compared to 48 percent of men
  • 54 percent of women are buying fewer clothes and shoes, compared to 40 percent of men
  • 48 percent of women are shopping more at discount stores, compared to 37 percent of men
  • 36 percent of women are cutting back on charitable giving, compared to 26 percent of men
  • 31 percent of women have cancelled or postponed vacations, compared to 22 percent of men

Additionally, the survey found that 22 percent of men reported making none of these lifestyle changes, compared to 14 percent of women.  “More and more women are now responsible for managing the family’s finances, and they are more cost-conscious as the economy tightens their purse strings,” said Paula DeLaurentis, managing director, strategic alliances, TD AMERITRADE. “As a result, women are cutting back on daily expenditures and luxuries now more than ever.”