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Men Spend More Than Women on Impulse Buys, Says Study

It’s safe to say that a lot of people might believe women and children to be the most impulsive shoppers. However, new data suggests that men actually spend more on impulse shopping than women.

In the recent “Invest In You” survey conducted by Acorns and CNBC in a partnership with SurveyMonkey, 89 percent of men and 90 percent of women copped to having made a few impulse buys. Despite the small difference in the percentage of people prone to making an impulse buy, men typically spent a great deal more when they gave into their urges as compared to their female counterparts.

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How much more? Nearly a quarter of all men surveyed, or 23 percent, spent more than $100 on a splurge. This number fell to 16 percent of women who could say the same. Women were more likely than their male counterparts to spend up to $50 on their guilty pleasures, but after that price point, men took the lead by increasingly wide margins. Men are more likely to spend their cash on power tools, pricey alcohol, or other more expensive purchases.

Ross Steinman, a psychology professor at Widener University, elaborated on the results of this market research. “The stereotype of women as impulsive in their purchase decisions is an inaccurate one...” said Steinman. “Impulse purchases are a result of consumer personality characteristics as well as a strategic placement of enticing stimuli in the shopping environment.”

It pretty much boils down to the fact that consumer advertising leverages male desires as often, and perhaps more effectively, than those of their female counterparts. Once you get past the common stereotypes, men are equally vulnerable to reckless spending habits.

If you have a problem with your spending getting out of control, there are a few ways to reduce some bad financial habits without going so far as to freeze your credit cards into a block of ice (not like this matters in an era where your smartphone can stand in for the plastic card, anyways).

As trite as it may seem, according to CNBC, sticking to a budget is the best option for starters. Write it up, stick to it, and refuse to budge on flash sales that continually hammer your inbox, spam folder or otherwise. You probably don't need a fifth, or 50th, pair of sneakers or a new video game – just play the other dozen or two clogging up your backlog.

Drop the credit card and debit card and start withdrawing your pay in cash. Seeing the bills and coins in hand, hard-earned and flowing from your hand, can be a real eye-opener as to where all your cash is going – and might even help you cut down on some of that impulse buying.

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Christina Majaski, Khareem Sudlow