More than half of mustache-wearers would consider seeking out counsel about personal finances, according to a survey commissioned by the American Mustache Institute (AMI), a tongue-in-cheek organization “protecting the rights of, and fighting discrimination against, mustached Americans” and Quicken, a provider of personal finance software.

Mustached Americans might feel the need to get their finances in order because their spending habits have left them fewer savings than their bearded and shaven friends. Despite earning 8.2% more than those with beards and 4.3% more than the clean-shaven, mustached Americans show an average 3% lower savings rate than the non-mustached, the research found.

The survey concluded that the “lavish Mustached American lifestyle” is a key contributor to lower savings among individuals in this facial hair cohort.

What do mustached individuals buy? According to AMI, the majority of Mustached Americans’ disposable income was spent on toiletries such as condoms, cologne, and teeth-whitening solutions (10%) and alcoholic beverages such as Budweiser beer and Rich & Rare Canadian Whisky (11%).

“If efficiencies in financial management could be realized in the near-term, 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,” said research consultant Hans Menjou-Bärtchen.

Menjou-Bärtchen Research Consultants conducted the survey during the first six months of 2009 using a random sample of 2,000 mustached Americans, 2,000 bearded Americans, and 2,000 clean-shaven Americans.

The study is available here.