The Wall Street Journal reports that rich people are feeling the pinch of hard economic times so much that they’re cutting back on allowances and gifts for their mistresses (and misters – 1/3 of respondents to the study were women):
According to a new survey by Prince & Assoc., more than 80% of multimillionaires who had extra-marital lovers planned to cut back on their gifts and allowances. Still, only 12% of the multimillionaire cheaters said they plan to give up on their lovers altogether for financial reasons.
“Rich people are getting hit, and they’re all expressing the need to curtail unnecessary spending,” said Russ Alan Prince, president of Prince & Assoc., a wealth-research firm based in Connecticut. “Lovers are part of the same calculation.”
And the women, it turns out, are much more generous:
The most surprising stats in the study relate to gender and what might be termed “length of service.” Fully 82% of men in the study said they planned to lower the allowances to their mistresses, while more than three quarters planned to provide fewer gifts, less expensive gifts and fewer perks, like jet rides, resort vacations and top restaurant meals.
Women were far more generous to their paramours in the face of financial crises. Less than 20% planned to lower allowances, gifts and perks, while more than half planned to raise them.
Susan Shapiro Barash, who teaches gender studies at Marymount Manhattan College and wrote “Little White Lies, Deep Dark Secrets,” about why women lie, said women value their lovers more than men in a time of economic trouble. “For the women, lovers matter more than ever now because the rest of life is so dreary,” she said. “For the men, they’re just cutting across the board.”
Ms. Barash added that women may value their lovers more today because their husbands are so miserable. “If your husband lost his job on Wall Street and he’s miserable, you need the escape,” she says.
I gotta find me one of those sugar mamas to keep me in the manner to which I’d like to become accustomed.