Women more likely to manage finances - Money - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Women more likely to manage finances

Women more likely to manage finances

Category: Money

Updated: 28/09/2012
First Published: 28/09/2012

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The tables are turning in young relationships with the majority of women taking control of the purse strings.

According to a study by Lloyds TSB, 91% of relationships where a women is in charge of making financial decisions had adequate savings, compared with 82% of those where the man took charge.

Women aged 45 and under were likely to select and manage the family's bank or building society accounts in 52% of households, whilst 54% confirmed they took responsibility of paying day-to-day bills.

The shift in behaviour suggests that more people have become 'financially savvy' as a result of the credit crisis, working together to manage their financial situations and making plans for the future.

Sylvia Waycot, finance expert at Moneyfacts.co.uk, said: "Women have balanced the family household budgets for generations so it comes as no surprise to me that they are now including major purchases and insurances.

"Many husbands, including my own, prefer to haggle for a good deal, which is shunned by many women who prefer to just find the most competitive deal and then buy it."

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

How much could it cost to get fit in 2017?

We’re almost a week into 2017, and hopefully, many of those New Year’s Resolutions are still going strong. Figures suggest that the most popular resolution is to achieve a healthier lifestyle, but just how much could that ambition set you back?

Over 1 million fall victim to online scams

We all like to think that we’re pretty savvy when it comes to spotting financial fraudsters, yet the rise of online scammers means it can be all-too easy to be hoodwinked - and unfortunately, huge numbers are falling victim.

Financial New Year’s Resolutions

It's that time of the year again: the presents have been unwrapped and the Christmas jumper folded away, and now all that's left is the hangover from the festivities. It's time to sit down and think hard about what you would like to change, and how.
 
Close