Mellody's Math: Battle of the Spending Sexes

Feb. 21 -- It is sometimes said that men buy and women shop.

After spending a day in Chicago with recent college graduates, Jennifer Breinig and Marvin Brown, one thing about their spending patterns was clear: Both are good spenders and bad savers.

In the early part of the day, Breinig went shopping, and was spending her money more quickly than Brown was spending his. But by the end of the night, she had spent $143.80 and Brown had spent $145.13. This experiment showed that the two sexes spent the bulk of their money quite differently.

It also gives credence to a study conducted jointly by researchers at Iowa State University in Ames, Iowa, and Kenyatta University in Kenya, which found that men and women perceive and spend money differently. Among their findings:

About 50 percent of both women and men worry at least sometimes about money. Twice as many women said money worries often interfere with their performance at work. A larger proportion of men than women said money worries interfere with personal relationships.

Though men still out-earn women, about 60 percent of men were dissatisfied with their level of savings, compared to 49 percent of women.

Women are more likely to engage in impulse shopping — spotting a handbag that they don't really need, and then hotfooting it to the register before second thoughts can keep them from their purchase. Researchers found that 36 percent of women buy things they don't need compared to 18 percent of men.

24 percent of women said they can not resist a sale, compared to 5 percent of men.

Women are more likely to consider shopping as an event, celebrating a promotion at work, or weight loss by purchasing a new pair of stiletto heels or a sleek suit. Researchers found that 31 percent of women said they shop to celebrate, but only 19 percent of men do the same.

The only category in which the sexes come out even? Having secretive spending habits. According to the study, they exist in 4 percent of us all.

Neither Keeps a Budget

In any case, the differences between the sexes certainly held up for Breinig and Brown.