How the Economy Is Affecting You
The fascinating - and sometimes surprising - results of our survey on women and the economy.


Updated on May 18, 2011, 5:18 pm ET
By The Betty Editors    Find in News    Related videos | articles | comments | share it

 How the Economy is Affecting You

How do women feel about the economy right now? That’s what we wanted to find out at BettyConfidential with our recent survey. And almost 1600 of you, from around the country, shared your feelings about “the great recession” we are all living through. You told us how today’s challenging economy has affected both your attitudes and your lifestyle in some expected – and some surprising – ways.

For example, almost 70 percent of the survey’s respondents said that, at least sometimes, they would like the man in their lives to be solely responsible for earning money for the family. We asked: “Do you sometimes wish it was the way it used to be when men were supposed to be the primary breadwinners and women stayed home to take care of the house and the kids?” Twenty-six percent of the women polled gave an unqualified “Yes!” Forty-three percent said they “sometimes” wanted a return to those traditional ways. Only 31 percent did not want their man to be the sole breadwinner. We’ve come a long way, baby – but is it where we want to be?

That is just one of the surprising opinions you shared with us. You also told us that almost half of you (48 percent) think the economy is worse than last year. Maybe that’s because 12 percent of you have lost your jobs and 11 percent have moved to cheaper homes because of the downturn.

And as the holiday approaches you are keeping your cash and credit cards zipped inside your wallets. Sixty-three percent of respondents said they will spend less this holiday season than last. And even if they receive a Christmas bonus (which this year won’t be many of us!), 75 percent said they will use it either to pay off credit-card debt or just plain save it. Only 7 percent would indulge in a little retail therapy for themselves.

The flagging economy has changed family behavior, too. Nowadays more than one in four women confess to getting money from their parents, while 10 percent told us they now give money to their parents. Couples fight about spending too much. (Thirty-seven percent because he’s the big spender. Slightly less, 32 percent, because she is too extravagant.) And money concerns affect singles, too. Almost 53 percent of our unmarried respondents said a potential mate’s earning power has become, at least somewhat, more important. But 47 percent told us their date’s salary is not important and still think money can’t buy love.

Women have become thrifty in various practical ways. They spend less on eating out and entertainment (32 percent). They have cut back on makeup and clothes (29 percent) and things for the house (27 percent). But they still are indulgent with the kids: Only 8 percent said they are buying less for their children.

As for the future, the participants have concerns about being able to live the way the want (31 percent), ending up “old and poor” (27 percent), facing big medical bills (22 percent) or not being able to give their children “what they should have” (27 percent). These are worries that we can all understand.

Yet despite all the financial difficulties and stress it’s caused, the current difficult economy has had some benefits as well. And women realize this. Almost half said they see the crisis as a way “to learn to be more practical about money. And nearly one–third (32 percent) look on it as “a way to focus on the more important things in life” … which we all know money can’t buy.


Share this Article...
    

follow BettyConfidential on...


More from BettyTV...more BettyTV

Partners...

FBNYC
#1. FBNYC on 11/19/2009 - 10:17 am (EST)
This one is definitely true: "Sixty-three percent of respondents said they will spend less this holiday season than last." I think everyone understands that buying extravagant gifts this year doesn't make much sense... it's the thought that counts!
danggirl
#2. danggirl on 11/19/2009 - 12:09 pm (EST)
I'm not surprised many women secretly wish for the old days when they weren't expected to be breadwinners! Be careful what you wish for ...
Lokifan
#3. Lokifan on 11/19/2009 - 1:43 pm (EST)
I have to say that I thought your survey was really poorly put together. I'm not sure many of these results are accurate.
Pen and Ink
#4. Pen and Ink on 11/19/2009 - 7:56 pm (EST)
I wasn't part of the survey and saw few of my views reflected. I can't imagine that every person, man or woman, hasn't had a bad enough day that they "sometimes" want someone else to be the breadwinner so this doesn't sound like a turnaround to me (I hope not). I'm unemployed and have been so for some months. I countered by starting a small consulting LLC but the economy is bad enough that clients are in short supply. Thankfully we can still blog!
Betty Editor
#5. Betty Editor on 11/20/2009 - 5:31 pm (EST)
Lokifan: The survey is accurate. BettyConfidential.com conducted this survey through an online survey system. The survey ran from 9 a.m. EST Monday, November 2, 2009 to 9 a.m. EST Monday, November 15, 2009. 1597 women from across the country responded. The margin of error was 1 - 4 percent.

 


Betty Boutique