No Shave November: 48% of Americans Think Bearded Men Are Better With Money

Rhea-AI Summary

LendingTree's recent survey reveals that 48% of Americans believe bearded men manage money better than clean-shaven men. Among men with facial hair, that belief rises to 75%. This year, 46% of men will participate in No Shave November and Movember, with 24% of women joining as well. Men spend an average of $42 monthly on grooming products, with bearded men spending $49. Additionally, about 12% of men invest in massages and 9% in facials. The online survey conducted from Oct. 15-20, 2021 included over 2,000 responses.

Positive

• Survey indicates bearded men perceived as better money managers, potentially enhancing LendingTree's brand perception.
• Increased public engagement during charity events like No Shave November may drive traffic to LendingTree's services.

Negative

• None.

CHARLOTTE, N.C., Nov. 9, 2021 /PRNewswire/ -- As No Shave November and Movember charity events get underway, here's a fun fact: Almost half of Americans think bearded men are better with money than their clean-shaven counterparts.

That's according to a LendingTree survey of more than 2,000 Americans about grooming in honor of this month's tradition of letting mustaches and beards grow to raise awareness of men's health issues.

Key findings

• Nearly half (48%) of Americans think bearded men are better with money compared to those who are clean-shaven. As for men who currently have facial hair, 75% claim they're better with money.
• This year, 46% of men will forego shaving and/or grow a mustache in honor of No Shave November and Movember. And the holiday isn't just for men as 24% of women will skip shaving, too.
• About 1 in 6 men say they've argued with a significant other about their facial hair (or lack thereof). Beard bickering is more common among men who prefer facial hair versus those who are clean-shaven (19% versus 14%).
• Men spend more money on grooming products than women, and it's more expensive to have a beard than to be clean-shaven. On average, men spend $42 per month on products like razors and shaving cream, while women spend $39. Men with facial hair spend even more: $49, versus $35 for clean-shaven guys.
• Men are into self-care, too. Male respondents indicated they spend money on massages (12%), manicures or pedicures (9%), facials (9%) and waxing (7%). Gen Z and millennial men are especially into these services.

"For whatever reason, Americans have long seen beards as a sign of wisdom and gravitas," said LendingTree's chief credit analyst, Matt Schulz. "Even Uncle Sam has a beard. Not to mention some of the wisest men in literature and pop culture, like Merlin, Gandalf and Obi-Wan Kenobi, have beards"

To view the full report, visit: https://www.lendingtree.com/credit-cards/study/no-shave-november-survey/.

Methodology
LendingTree commissioned Qualtrics to conduct an online survey of 2,051 U.S. consumers from Oct. 15-20, 2021. The survey was administered using a nonprobability-based sample, and quotas were used to ensure the sample base represented the overall population. All responses were reviewed by researchers for quality control.

About LendingTree
LendingTree (NASDAQ: TREE) is the nation's leading online marketplace that connects consumers with the choices they need to be confident in their financial decisions. LendingTree empowers consumers to shop for financial services the same way they would shop for airline tickets or hotel stays, comparing multiple offers from a nationwide network of over 500 partners in one simple search, and can choose the option that best fits their financial needs. Services include mortgage loans, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the LendingTree platform, consumers receive free credit scores, credit monitoring and recommendations to improve credit health. LendingTree proactively compares consumers' credit accounts against offers on our network and notifies consumers when there is an opportunity to save money. In short, LendingTree's purpose is to help simplify financial decisions for life's meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree

MEDIA CONTACT:
Morgan Lanier
morgan@lendingtreenews.com

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SOURCE LendingTree.com

FAQ

What percentage of Americans think bearded men are better with money according to LendingTree's survey?

According to LendingTree's survey, 48% of Americans think bearded men are better with money.

How many men will participate in No Shave November this year as per LendingTree's findings?

46% of men will participate in No Shave November this year.

What is the average monthly spending on grooming products for men with beards?

On average, men with beards spend $49 monthly on grooming products.

When was the survey by LendingTree conducted?

The survey was conducted from October 15-20, 2021.

How many respondents participated in LendingTree's recent survey about facial hair?

The survey included over 2,000 respondents.