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6 Things That Cost Women More


The gender pay gap often takes the spotlight when it comes to women's financial issues. But on the spending side of the equation is an equally worrisome problem: Women must pay more for many things, including some big-budget items, throughout their lives. In fact, a recent study by the New York City Department of Consumer Affairs compared the city's local prices on nearly 800 products from toys and children's clothing to personal care products and senior health care products. It found that women's products, on average, cost 7% more than similar products for men.

The higher costs are not necessarily due to discriminatory practices. (And the difference in price doesn't always favor men. For example, a Y chromosome typically bumps up prices for life and car insurance.) Still, that doesn't make bigger bills for women any easier to manage. What will help is knowing to expect them. When establishing short-term budgets and long-term financial plans, recognize that gender is a factor, and plan accordingly. You need to be prepared to pay more for the following six items if you've got double Xs.


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