| November 3, 2009

Debt More Likely to Gobble-Up Career-Oriented Women More than Men

Consolidated Credit discusses the financial challenges women face when starting their careers.

Women trying to build their careers are more likely than their male counterparts to incur credit card debt, according to a new analysis done by Consolidated Credit, the nation’s foremost national debt counseling organization.

The examination of the financial records of more than 60,000 Consolidated Credit clients nationwide revealed a pattern: that single women 25-34 seek credit help in greater numbers than single men in the same demographic group. A further look at the records shows that one of the reasons for the disparity is the amount women spend on clothing and personal care items.

But there may be good reason why women are struggling more. Men starting out can get away with a smaller and less costly wardrobe. Women simply need more to climb the corporate ladder. There are certain expenses that can be shared, such as household expenses, but a woman needs her own wardrobe. In addition, there may be another reason for greater female debt — namely, that women still earn less than men.”

Government surveys bear this out. According to the Bureau of Labor Statistics (BLS), the average young single man spends $1,426 annually on clothes and another $234 on personal care items. Single young women, however, spend an average of $1,763 on clothing annually and $740 on personal care products, while making nearly $3,000 less each year.

According to the United States BLS, although women have made great strides equalizing pay disparity, the average woman earned 77% of what men earned in 2008, up from 57% in 1979. The upside for women is that male-dominated jobs have been hit hardest by the recession, and women have a lower unemployment rate. As of September 2009, men have a 10.3% unemployment rate compared to women who are at 7.3%.

Consolidated Credit is offering a free education publication titled Women and Money which is a short guide to the factors women should consider regarding money matters.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

"We are really proud to recommend Consolidated Credit" Kathleen Cannon, President & CEO of United Way of Broward County. Consolidated Credit Counseling Services, Inc. is pleased to announce our partnership with the United Way as a United Way Chairman’s Circle Organization.

All Consolidated Credit counselors are certified personal financial counselors (CFC) We've helped 5 million people get out of debt! Call us today and see what we can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

Consolidated Credit is honored to receive the 2012 Excellence in Financial Literacy Education (EIFLE) Nonprofit Organization of the Year award. The EIFLE awards acknowledge innovation, dedication and the commitment of organizations that support financial literacy education worldwide. See what Consolidated Credit can do for you.

The National Industry Standards for Homeownership Education and Counseling are a set of guidelines for quality homeownership and counseling services. Industry professionals who adopt these standards can be trusted to provide consistent, high quality advice.
Click here to learn more.

Consolidated Credit Consulting Services, Inc. has been verified as the owner or operator of the Web site located at www.consolidatedcredit.org. Official records confirm Consolidated Credit Consulting Services, Inc. as a valid business. Call us today and see what we can do for you.

Consolidated Credit is a Certified ISO 9001 company, as verified through Bureau Veritas Certification.

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Time tested and customer trusted. Consolidated Credit Counseling Services has been a BBB Accredited Business since 1998 and has a current A+ rating. Call us today and see what we can do for you.

View the Consolidatedcredit.org review status

Consolidated Credit is proud to be an ANAB accredited member. Accreditation by a recognized and respected body such as ANAB ensures the impartiality and competence of our company. To see what we can do for you, give us a call.

U.S. Department of Housing and Urban Development - HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. Consolidated Credit is proud to be a member of HUD and also part of the Hope Now Alliance.

You can save!

With this amount of debt, you'd pay around $xx.xx on a DMP.

FREE Debt Consultation
VE Interactive