BLACKSTRANDS

Poll on Black Women’s Spending Habits

An ING poll from September (which was also posted on Essence magazine’s website) reported that black women are big givers and spenders, but lag behind in accumulating funds for their savings. In the poll, 68% of black women said they would buy what they wanted in a good or bad economy:

Support of Others – Family, Friends and Church – Complicates Savings:

  • 47% of Black Women Say It is Difficult to Have Desired Lifestyle Because of Financial Obligations to Their Immediate Family
  • More Than a Third Have Loaned Over $1,000 to Friends or Family in Last Year
  • 71% Say It’s “Very Important” to Give Money to Their Place of Worship
And Spending Doesn’t Help Matters:
  • 68% of Black Women Buy What Thy Want in Good or Bad Economy
  • 41% Feel Guilty About How Much They Spend on Expensive Brands

Two in Five Report Total Savings of Less than $10,000

© Stockbyte

© Stockbyte



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