We analysed over 3 million anonymous transactions, tagged against 10 spending categories, including: appearance, enjoyment, bills, family, mortgage or rent, home and transport.
At a really high level, men spend an average of £150 per month (or £1,800 per year) more than women on having fun. Men spend an average of £671 per month on enjoying themselves, compared to women’s monthly ‘fun’ expenditure of £520. While men will prioritise fun, debt repayments dominate monthly outgoings, with spending on repayments on average £238 greater than that of women.
So if our figures show anything, it’s that men are in greater need to get a better handle on their finances and escape the debt trap. Starting with a simple budget is the easiest way to take back control of your money and end the vicious repayment cycle.
Money Dashboard can help you get an at a glance look at your financial health, how much you’re spending on what & what that might mean for your long term finances.
We give you the bigger picture of your financial life by showing you all of your accounts in one place, no matter who you bank with.
No more logging into multiple apps or complicated sums in your head - just your balances, together.