Friday, January 1, 2010

Why it costs more to be a woman

Why it costs more to be a woman is an article by MP Dunleavey over at MSN Money

From beauty products:

For example, Barbasol Soothing Aloe shaving cream, 11 ounces, sells for $1.69. Barbasol Pure Silk shaving cream for women, 9.5 ounces, sells for $2.49.

As a Barbasol rep explained, "80% of women like to shave in the shower," so the product needs a rust-resistant aluminum-bottom can. The company also adds more fragrance. These things cost more.

To mortages:

A 2006 study (.pdf download) by the Consumer Federation of America indicated that women were 32% more likely than men of similar income to carry subprime mortgages. Those subprime interest rates topped 7.66% when the average prime mortgage rate was 5.87%. On a $100,000 loan, that's nearly $120 a month more -- about $43,000 more over 30 years. Women were 41% more likely to end up with high-cost subprime loans, at rates above 9.66%.

The article was very interesting. I think the quickest thing to do is check out the labels when at the store to stop some of the beauty product scams. Yet, we need to be talking the the legislatures about the mortgages scams.

1 comment:

  1. Holy crap, 32% more likely to have subprime mortgages! that is pure discrimination!

    I agree on both counts, on the individual level look at labels and see what you are really paying for and as a group, we need to do more lobbying for equality and close the pay gap as well as the financial services discrimination policies. Is this 2010 or 1961?