Men, money advice and the road to financial health

There is a good deal of research already published on women and debt, and we wanted to ascertain any common tendencies in the reactions of men to a debt problem, most notably in the ways they seek and respond to advice. Anecdotal evidence was that men may be less likely to seek advice early when faced with a debt problem, and we wanted to understand whether this was true and if so what reasons may lie behind this. We now know that men who were unable to access advice when they tried were less likely to do so again, though positive experiences reinforced advice-seeking behaviour. Barriers faced by men included confusion between government or charitable debt advice services and commercial debt consolidation services, with a preference for the former and feelings of distrust for the latter. An interesting outcome is that men prefer empowering approaches that enable them to have a ‘do it yourself approach’ when dealing with their debts. (Money Advice Trust, 2011)

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