The Denver Broncos beat the Miami Dolphins last week, but your male clients may have missed it. A report released Tuesday by ING DIRECT, a subsidiary of ING, and Men’s Health found that 42% of men spend more time working on their personal finances than they do watching sports.
“A surprisingly large number of men surveyed are saving for retirement, paying off their mortgages and watching their finances more closely, things that simply were not happening just five years ago,” Arkadi Kuhlmann, president and CEO of ING DIRECT USA, said in a statement.
Overall, men appear to have pretty good money management habits, the survey found. Almost one-third of men have more than six months of living expenses saved in cash and 40% said they would likely put an extra $1,000 into their emergency fund rather than their retirement account. Over half said they always or usually pay their monthly credit card bills in full.
Just 11% of men spend between $100 and $199 per week on drinks or dinner. Most spend no more than $49. Of those who own a home, 56% of men surveyed said they are current in their payments; 35% own their home in full.
In one of the survey’s more cryptic findings, 91% of men are willing to spend $1,000 to make sure “what happened there stayed there” at a bachelor party.