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Men out in front in savings battle of the sexes

Men out in front in savings battle of the sexes

Category: Savings

Updated: 10/06/2010
First Published: 10/06/2010

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 It is now over 6 months old so the content may be out of date.
A clear gender gap has emerged amongst savers, as men continue to save at a significantly higher rate than women.

Guys are now banking over a third more each month than girls, according to Santander.

As a result, the average male saver now has almost £7,000 more held in his savings accounts than the average female saver.

Younger males are the most ardent savers of all, banking an impressive £170 each month, almost double the £91 per month that younger females are saving.

A simple way for women to start to close the savings gap would be to switch their savings account or cash ISA to a more competitive deal.

Around six in ten (59%) savers in the UK claim to have an instant access savings account, while 43% have a cash ISA.

While having a savings account or cash ISA is a great start, making sure you are getting the best rate available will boost your savings even further.

Check out our savings account best buy charts and make sure you are making the very most of your money.

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 Any products featured may be withdrawn by their provider or changed at any time.

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