New Study Finds Mustached Americans Earn More, But Save Less
Take note clean-shaven and beard-wearing Americans: Sporting a mustache may improve your chances of landing a higher-paying job, but it won't mean you put more money in the bank, according to a study commissioned by Quicken ® and the American Mustache Institute(AMI), the St. Louis-based think tank and advocacy organization representing Mustached Americans.
The study "Saving And Spending Patterns of Mustached Americans" – available for viewing and download on AMI's research page
The research found that Mustached Americans earned 8.2 percent more on average than those with beards and 4.3 percent more than the clean-shaven. People of Mustached American descent, however, also tended to spend 11 percent more and save 3 percent less than their collective counterparts.
"A down economy on top of the trappings of the more sexually adventurous Mustached American lifestyle – and things are beginning to catch up with us," said Dr. Abraham Jonas Froman, AMI's chief executive officer. "We just hope that our new partnership with Quicken, as well as the excitement of naming the 'Robert Goulet Mustached American of the Year' at 'Stache Bash 2009 featuring John Oates, will help provide a sound financial roadmap for our community."
Quicken, which provides personal and small business finance products and services, has partnered with AMI to establish a special Mustached American help line at 877-STACHE-1 and will provide financial planning tools at 'Stache Bash 2009 featuring John Oates, to be held Oct. 30 in St. Louis. As part of a further Mustached American Improvement Initiative (MAII), Quicken will also fly one financially challenged Mustached American and guest to 'Stache Bash, and more information will be available at Twitter.com/MustacheTalk and Twitter.com/quicken .
The study found that the majority of Mustached Americans' disposable income was spent on toiletries such as cologne, and teeth whitening solutions (10 percent); alcoholic beverages such as beer and Rich & Rare Canadian Whisky (11 percent); 1970s and '80s-era music memorabilia, most commonly by Hall & Oates (1 percent); clothing apparel consisting of Speedo swimsuits, leather pants, and tank-top tee-shirts; and DVD movies most commonly starring Billy Dee Williams, Chuck Norris, Richard Roundtree, and Burt Reynolds.
"If efficiencies in financial management could be realized in the near-term," said principal research consultant Dr. Hans Menjou-Bärtchen. "It's highly probable that over the next four to five years, we will see Mustached Americans' savings rate grow to surpass their bearded and shaven peers."
Bearded Americans, according to the study, spend the majority of their income on breakfast pastries (14 percent), beard combs (2 percent), lice removal kits (1 percent), overalls (12 percent), and semi-automatic weapons (18 percent).
Clean-shaven Americans said they most commonly spend their income on items such as Levi's Dockers brand apparel (15 percent), signet rings (7 percent), fitness water and other sports-related beverages (12 percent) vitamin supplements (13 percent), strip-mall haircuts (9 percent), and Zima brand adult beverages (8 percent).
Next: Taller Men Earn More >>
For more about the study or 'Stache Bash 2009 featuring John Oates, visit www.AmericanMustacheInstitute.org or call 877-STACHE-1. To read the full study visit http://www.americanmustacheinstitute.org/Research.aspx, and to see a companion video visit http://www.youtube.com/watch?v=sni8ewT_Wak.