Widows are older than divorcees on average and therefore less likely to pay bills online.
There are some corners of American society still not comfortable with conducting business online, and there is a difference between affluent widows and divorcees in regards to online transactions and communication.
Spectrem’s newest whitepaper – Women in Transition: Widows and Divorcees – examines the financial attitudes, concerns and behaviors of affluent women who were part of a couple and are no longer. Although there are similarities between women whose husbands passed away and women whose marriage broke up, there are differences as well, and many of them relate to conducting business online.
Part of the difference can be attributed to age. The average age of Millionaire widows is 70, and the average age of Millionaire divorcees is 62. The “Millionaire” segment is those with between $1 million and $5 million in net worth, not including primary residence.
Seventy-five percent of affluent divorcees pay their credit cards online, to just 56 percent of affluent widows. There are similarly stark differences in paying utilities online (68 percent of divorcees to 33 percent of widows), insurance (62 percent of divorcees to 40 percent of widows), and mortgage payments (40 percent of divorcees to 16 percent of widows).
The most significant difference in online payment habits is with personal items. Seventy percent of divorcees shop online for personal items while only 33 percent of widows do.
When people reach the age of 60 or above, medical expenses become a major part of their lives, and 34 percent of divorcees pay their medical bills online to just 20 percent of widows.
The use of social media for women in transition is dependent on whether they are still in the workforce. For instance, 40 percent of divorcees are on LinkedIn, a social media site for working relationships, to just 27 percent of widows. On the opposite side of the social media spectrum is Twitter, with 13 percent of widows (perhaps with more free time) and just 2 percent of divorcees involved.
Twenty-five percent of all women in transition have no social media involvement.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.