A common misconception regarding the spending habits between men and women is that women typically spend more than men. While this may be true for things such as fashion or beauty products, a detailed analysis on this topic (see infographic below) shows that this may not be entirely true overall.
Taking into consideration the typical annual income of each sex, as well as age and debt, we find that not only do men spend 15% more than women on credit cards but also £235 more on travel and £150 more on entertainment each year. However, women spend on average £315 more on fashion, with 85% of women making compulsive purchases.
Looking over the top 5 items that men and women spend their money on, it would appear that women win in terms of priorities – but only just!