What factors influence the spending behavior of Americans? Arguably, one of the most significant and relevant indicators of the U.S. economy is the spending and budgeting patterns of households. The Federal Bureau of Labor Statistics tracks these patterns, along with other key economic indicators, to assess the overall health of the national economy. I hypothesized that gender did not have an impact on saving, spending, and budgeting patterns in American household. I conducted research by creating a questionnaire and collecting 142 completed surveys through Amazon Mechanical Turk. The data was analyzed using IBM’s SPSS software. My results showed me that gender was a defining factor among respondents. I found a significant difference in the responses from different genders. While 86.1% of females agreed or strongly agreed that they noticed increased prices, only 61.8% of males replied similarly. This was statistically significant at less than 1%. I also saw 52.7% of females admitted they save between $3001 to $5000, as opposed to 17.3% of males who said they save an amount within the same range. This finding was found statistically significant at the <1% level. These findings contradicted my hypothesis. From this I can conclude that more females are likely to confidently claim that there have been price increases in necessary goods and services. Females are also more likely to save more monthly for future goals. I believe that the public could take advantage of this knowledge to recognize the differences between genders in the economic and financial sphere.
Battle of the Sexes: The Impact of Gender on Household Spending and Saving
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