[Cara Reynolds – SUM180 Community Manager]

In general, women carry less debt than men, yet somehow they also tend have to lower credit scores. Why?

According to the Washington Post, the explanation is simple: the gender pay gap. Here’s how that plays out. A man’s bigger paycheck can leave him with more cash left over after the bills are paid — even if he has bigger debt payments. That would result in a lower debt-to-income ratio, a measure that lenders consider when deciding whether they think a borrower can afford to pay back a loan.

While it’s hard to look at this statistic as anything other than discouraging, it is one more reason for women to be especially attentive to their financial picture. What savings or debt reduction strategies have worked for you? Post your own stories and insights in the forums, and let’s help one another improve our financial health!