Content

Spike TV Ready for Tax Season

4/11/2005 10:52 AM Eastern

Spike TV recently conducted a poll on men’s habits and opinions about finances.

Among findings of the network’s online survey of 525 men 18-49:

• 56% of men are the primary bread-winners for their household, with the rest either having joint responsibility or someone else as the primary earner;

• 35% said they're financially better off than their parents;

• 68% were concerned about making ends meet;

• 57% expected to become wealthy in their lifetime;

• 47% were primarily responsible for paying the bills, with the rest sharing responsibility (32%) or having someone else do it (21%);

• 66% have paid at least one bill in their lifetime late;

• As far as debt, 41% have credit-card debt, 41% car loans, 37% student loans, 36% home mortgages and 20% medical;

• 63% pay at least one bill online;

• 80% have credit cards, and more than one-third have three or more credit cards;

• The average balance carried on credit cards is $1,840;

• 30% usually pay their taxes at least one month before they are due;

• The most popular ways to save are through savings accounts (67%), 401k/individual retirement account (41%), stock/bond funds (28%) and life insurance (28%);

• More men save for vacations (43%) than retirement (40%) or even kids' education (21%);

• Men save for a variety of reasons: emergency expenses (32%), car (31%), general luxuries (31%), home (29%) and their own education (23%);

• 38% expect to rely on Social Security when they retire.

March