Do you know the term “put on thick pants”? No – basically it describes the behavior of people who usually spend significantly more money than you have available and thus basically live a life on credit. A behavior that is probably attributed to the male sex in most cases. A prejudice or at least close to a certain percentage of reality? If one looks at the results of a survey carried out by a large German comparison portal, it can at least be assumed that taking out a loan in most cases emanates from men, because women apply for loans less frequently than men. Even when women take out loans, the sums of credit are much lower than the male portion of the population.
Women are more cautious about credit
The basis of the survey and, as a result, its evaluation was a representative number of loans, which were concluded in a defined period via the comparison portal already mentioned. It emerged that women increasingly take smaller loans. While only about 52 percent of men take up a loan of up to 5,000 euros, just under 61 percent of women decide in favor of this sum. One reason for this difference is likely to be in the still strak different salaries of both groups, because to date, the salary level despite equal qualifications in women is a good 20 percent below that of men. Unfortunately, this difference between men and women is not reflected in the credit conditions, because these are identical. Special loans for women are non-existent. One reason for this is certainly the fact that women earn less, but at the same time apply for lower sums and credit sums. But whether that really can serve as a reason and may not offer special loans for women is something to be sure.
In eastern Germany, borrowing by women is more likely
While in the old federal states the classical family model is more widespread, in East Germany the share of unmarried couples in communities is higher (according to the 2014 micro census of the Federal Statistical Office). As a result, the likelihood of women taking up loans in the new federal states is significantly higher. Examples: In Mecklenburg-Western Pomerania, the proportion of women in loans is 44 percent, in Saxony at 43 percent and Saxony-Anhalt at 42 percent. By contrast, the proportion of women taking up loans in the western German Länder is much lower – Schleswig-Holstein (26 percent), Baden-Württemberg (27 percent) and Rhineland-Palatinate (28 percent).
Use of a loan
For cars and motorcycles, the gender difference is most apparent. Here, the proportion of loans taken up by men is 79 percent. For example, in the case of loan repossessions, this share is 64 percent. On the other hand, women borrow much more frequently for family and education, as well as for celebrations and special occasions.