Personal Finance: Men's debt bind.
The Consumer Credit Counselling Service said men aged between 25 and 39 who asked for help typically had around pounds 14,910 of unsecured debt, compared with women's pounds 11,416.
When income levels were taken into account men also had higher levels of borrowing, with an average debt-to-income ratio of 16.32 - meaning they owe more than 16 times they earn.
This compared with a debt to income ratio, also known as a debt stress level, of 13.05 for women and 13.66 for couples.
CCCS, which looked at more than 50,000 people who asked it for help, said men may not have acquired the day-to-day budgeting skills many women had, particularly as among couples women tended to take responsibility for how much they and their partners spent.
It said this left men particularly vulnerable to getting into debt following a divorce or relationship breakdown, both of which are major triggers to debt problems.
It added that women also tended to report higher levels of stress
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|Publication:||The Birmingham Post (England)|
|Date:||May 17, 2003|
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