Relationships & Finances: Why Women Have Better Credit Than Men
Yes. The argument has just begun lol. This is actually not a debate, I have seen over 8400 credit reports in 5 years and the numbers are about the same now versus 5 years ago. In this blog post, I will explain a couple of reasons why most women have better credit scores than men. It’s not that men don’t have great credit. It’s the fact that more women simply care more about their credit scores and reports.
Men, like we always do, seem to let our ego get in the way and act as if we know it all when in most cases, we don’t. This post is not to belittle men, I myself fell victim to this before and if it wasn’t for my wife, we wouldn’t have accomplished as many goals as we have. So trust me, I understand first hand. As you read this, don’t take anything personal, this is not all women or men, but it is most. Let me break down why.
Women Simply Care More About Their Credit
Women make the same mistakes that men do but, they have no problem looking for someone to help them improve their credit score. Most women actually care about having better credit scores. Men on the other hand, sugar coat the issue and believe that they have all of the answers. I truly believe that because of our ego, we put a limit to our success and in this case, our credit scores. I have personally spoken in front of many audiences and during my presentations, women are taking notes and being more attentive.
For the most part, many men feel like there is no room for credit improvement or that there are no mistakes in their financial lives. Men feel like their money is being graded by how much they make. Because of this, we end up paying cash for everything which is good and bad. It’s good because it doesn’t create unnecessary debt. It’s bad because we feel that if we pay cash, others can see how we are doing based on material things and how we pay for them.
The Problem With Women That Have Great Credit
We all know that most women have great hearts and they like helping people. The problem with this is that some people take advantage of them. For example, cosigning for a loan, living space, cell phone, credit card, or etc. I am not saying that cosigning is bad, but there is a time when you should do it and when you should stay away from it.
This will eventually lead to lower credit scores if the person without the best credit becomes late on payments, misses payments, or closes out the account with an open balance due. This does not happen all the time but why put yourself in a situation that you cannot control 100%?
What Men Have To Understand
Men that don’t have the best credit must understand that it is not ok to keep going through life without knowing how credit works. We have to know that buying a car from a “Buy Here, Pay Here” will not help us in the long run when we need another car. It’s ok to pay cash for things yes, but most incomes will not be sufficient when it comes down to a reliable car/truck or home purchase. We have to learn for ourselves instead of depending on our female counterparts for credit support and know that life is easier with better credit scores. I am not saying don’t ask for help when needed, I am simply saying make sure you create a plan for yourself after the help is complete.
The Bottom Line
I hope I didn’t upset anyone with this article. For those of you who have read from me in the past, you know that I always provide the best insight I possibly can and it may come with a little tough love as well. I want the absolute best for everyone but I see too many adults not taking responsibility for their finances.
Calvin Russell Jr is a Certified FICO Professional, Approved Partner With Bankrate, and the CEO & Founder of GoSimplyPro Credit Consultation. GoSimplyPro Credit Consultation is a Chicago based Credit Repair Company that helps clients get better credit scores. GoSimplyPro Credit Consultation has helped hundreds of people increase their credit scores, qualify for homes, cars, and lower interest rates with their personal, Step-By- Step Game Plans. Contact us today to learn more at 877.205.7771 or email us at firstname.lastname@example.org.