Exploring the Differences in Borrowing Habits Between Men and Women

MAN VS WOMEN IN BORROWING HABIT WHO IS BETTER ? When it comes to borrowing habits , Both genders have their own unique approaches to borrowing and credit , there is no one - size - fits - all answer to the question of who is better at managing their debts . Explore some of the key factors that contribute to these differences . ACCESS TO CREDIT access to credit has improved significantly in recent years , women still face a number of challenges when it comes to getting approved for loans and other forms of credit . According to a report from the Times of India , women are less likely than men to be approved for loans . T LOWER DEFAULT RATES Men and women have different borrowing habits when it comes to home loans . research has shown that women tend to have lower default rates on home loans compared to men . A study from December 2019 found that 29 % of home loans in India are taken out by women . However , the percentage of women borrowers for personal loans is only 15 % . SELF - MONITORING Research has shown that women tend to have better self - monitoring skills than men . According to a study by TransUnion CIBIL , the number of women who self - monitor their credit rise by 62 % between 2018 and 2019. This is notable because it is twice the rate of men who self - monitor their credit . ₹ CONSERVATIVE SPENDING In general , women tend to be more conservative in their spending habits than men . This means that they are less likely to take on large amounts of debt in order to finance expensive purchases or investments . her conservative approach to borrowing and spending can help women avoid getting into financial trouble and can help them build up a strong credit history . GROWTH DRIVERS While both men and women can be successful borrowers and investors , there are certain factors that tend to drive growth in women's borrowing habits . One of the key drivers of growth for women is education . NEW - AGE INVESTING In recent years , there has been a shift towards more innovative and technology - driven forms of investing . According to a report from CNBC , women are more likely to invest in alternative assets such as cryptocurrency , which can offer higher returns but also come with more risk . Source : https://credithelpindia.com/blog/exploring-differences-borrowing-habits-between-men-and women CREDIT INDIA