Men vs. Women, spending your tax refund
Posted May 15, 2011 12:33 pm.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The tax deadline has come and gone and now many of us are starting to receive our refunds in the mail.
According to a new BMO survey 56 per cent of Canadians plan on doing the responsible thing by paying bills and credit card balances or using the money to invest.
“Being Canadians, good judgment gets the better of us and I think most Canadians look at their household financial circumstances, goals and objectives,” says the bank’s Kirk O’Brien.
He adds there’s a huge difference in how each sex spends money. “Women are more likely to use their refund to pay bills compared to men, 39 per cent versus 31 per cent. Men are more likely to invest it in an RRSP or Tax Free Savings Account, 24 per cent versus 17 per cent.”
If you got a refund, it may be a good idea to sit down with a financial planner to assess your financial situation.
