Fifty-eight percent of U.S. men spend more time each week watching sports than they spend working on their personal finances, including their investments, according to a new national survey of 500 men conducted by TNS on behalf of ING Direct, an online bank, and Men's Health magazine.
However, there's still room for finances. ING Direct CEO Arkadi Kuhlmann said in a statement that a surprisingly large number of men surveyed were saving for retirement, paying off mortgages and watching their finances -- activities that happened less frequently five years ago.
"Being financially fit and responsible is something all consumers should strive for, and these findings prove that people see the value in being in control of their money and future," Kuhlmann said.
- 69 percent of men said they had more than six months' living expenses in an emergency fund.
- 31 percent had less than six months' expenses in liquid savings.
- 56 percent of men who owned a home said they were current on their payments and had some equity.
- 35 percent who owned a home said they had no mortgage and owned it outright.
- 51 percent of men said they always or usually paid their monthly credit card balances in full.
- 44 percent said they had a net worth of at least $100,000.
- 40 percent said they spend less than $49 each week on drinks, dining out, playing pool and similar activities.
- 11 percent said they spend $100 to $199 each week on such entertainments.
The survey was taken by telephone and online March 30 through April 3, 2011.
No word yet on the responses of the 500 women who were also surveyed.
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