Home » Finance » Personal Finance

Women Find Saving 'Easy'

Aug 18, 2007
Women are savvier at handling their finances than men, a new set of figures suggests.

In research carried out by Engage Mutual Assurance, about two out of three females (67 per cent) are reported to find it "relatively easy" to keep up a routine of saving money. Meanwhile, 70 per cent of ladies are able to budget well, in comparison to 68 per cent of males. The results come despite women being indicated to earn 30 per cent less money than men.

Commenting on the figures, Karl Elliott, marketing director for Engage Mutual Assurance, said: "The good news from these results is that many Britons actually find saving as part of their day-to-day lives relatively easy. When you compare saving for the future to other common lifestyle challenges, you realise that getting into the habit of saving can be easier than changing your diet, for example. By getting into the habit of saving more often Britons can help secure both their and their family's future".

Research from the financial services company also showed that consumers with young families have the greatest difficulties in setting up and sticking to a budget. Some 40 per cent of Britons between 35 and 44 years old - the age group most likely to have children - are said to find it hard to save money for the long-term, in comparison to a national average of 32 per cent.

And with the recent smoking ban coming into effect, giving up cigarettes was said to be easier for Britons to do than regularly saving money. According to the firm, one in five (20 per cent) claim that they would find it difficult to quit the habit for a six-month period. The study, which surveyed a total of some 2,000 people, also reported that 56 and 52 per cent of women respectively would find it hard to stick to going on a diet or exercising regularly for longer than six months.

However, in a study conducted by Investec Private Bank earlier this month, less than a third (29 per cent) of savers were reported to be unaware of how much interest they are generating on the money they put aside each month. Although 19.3 million Britons are reported to regularly save money, only one out of five respondents know the exact rate they receive. The findings also suggest that despite the Bank of England increasing the base rate of interest five times over the last 12 months - a move further pressurising consumer' ability to make secured loan repayments - an estimated 10.2 million people with savings accounts are not making full use of the rises to bolster the amount of money they are putting away.

As a result, this led to Linda McBain, head of banking for the financial company, to claim that millions of Britons are "potentially missing out on substantial returns over the course of a year" - which in turn could see them develop financial difficulties in later life. The study reported that those with savings of at least 25,000 pounds may be missing out on hundreds of pounds in interest by choosing uncompetitive schemes.
About the Author
Mark Dawson writes for the Loan Arrangers. Where visitors can compare cheap loans online, and apply for debt consolidation loans. To read more articles from Mark go to http://news.loan-arrangers.co.uk
Rating:
Please Rate:
(Average: Not rated)
Views: 193
Print Email Report Share
Article Categories
    • Artists
    • Gambling
    • Humanities
    • Humor
    • Movies
    • Music
    • Photography
    • Tattoos
    • Television
    • Classic Cars
    • Motorcycles
    • Recreational Vehicles
    • SUVs
    • Trucks
    • Vans
    • Branding
    • Business Opportunities
    • Careers and Jobs
    • Corporate
    • Customer Service
    • Direct Mail
    • Entrepreneurship
    • Ethics
    • Financing
    • Franchising
    • Home-Based Business
    • Human Resources
    • Import and Export
    • Leadership
    • Management
    • Market Research
    • Marketing and Advertising
    • Negotiation
    • Network Marketing
    • Networking
    • Organizational
    • Presentation
    • Project Management
    • Public Relations
    • Small Business
    • Strategic Planning
    • Team Building
    • Telemarketing
    • Training
    • Data Recovery
    • Databases
    • Games
    • Hardware
    • Networks
    • Operating Systems
    • Programming
    • Security
    • Software
    • Spyware and Viruses
    • Ask an Expert
    • College and University
    • Home Schooling
    • K-12
    • Languages
    • Online Education
    • Psychology
    • Coffee
    • Cooking
    • Gourmet
    • Recipes
    • Wine and Spirits
    • Acne
    • Aerobics
    • Alternative Medicine
    • Beauty
    • Cancer
    • Cosmetics
    • Depression
    • Diabetes
    • Diseases and Conditions
    • Fitness Equipment
    • Fitness
    • Hair Loss
    • Heart Disease
    • Medicine
    • Men's Health
    • Muscle Building
    • Nutrition
    • Skin Care
    • Supplements and Vitamins
    • Weight Loss
    • Women's Health
    • Yoga
    • Arts and Crafts
    • Babies
    • Collecting
    • Elderly Care
    • Genealogy
    • Hobbies
    • Parenting
    • Pets
    • Pregnancy
    • Woodworking
    • Feng Shui
    • Gardening
    • Home Appliances
    • Home Security
    • Interior Design
    • Landscaping
    • Affiliate Programs
    • Article Marketing
    • Auctions
    • Audio
    • Banner Advertising
    • Blogging
    • Broadband
    • Domain Names
    • E-Books
    • E-Commerce
    • Email Marketing
    • Ezines and Newsletters
    • Forums
    • Internet Marketing
    • Link Popularity
    • Pay-Per-Click
    • Podcasting
    • RSS
    • Search Engine Marketing
    • Search Engine Optimization
    • Security
    • Social Media
    • Spam
    • Video
    • Viral Marketing
    • Web Design
    • Web Development
    • Web Hosting
    • Copyright
    • Cyber Law
    • Intellectual Property
    • National, State, Local
    • Patents
    • Regulatory Compliance
    • Trademarks
    • Buying
    • Selling
    • Baseball
    • Basketball
    • Boating
    • Cycling
    • Extreme Sports
    • Fishing
    • Football
    • Golf
    • Hockey
    • Hunting
    • Martial Arts
    • Running
    • Scuba Diving
    • Soccer
    • Swimming
    • Tennis
    • Dating
    • Divorce
    • Marriage
    • Weddings
    • Astrology
    • Buddhism
    • Christianity
    • Faith
    • Hinduism
    • Islam
    • Judaism
    • Meditation
    • Metaphysical
    • New Age
    • Cable and Satellite TV
    • Cell Phones
    • Communication
    • Gadgets and Gizmos
    • GPS
    • Satellite Radio
    • Video Conferencing
    • VoIP
    • Addictions
    • Coaching
    • Goal Setting
    • Motivational
    • Stress Management
    • Time Management
    • Clothing
    • Electronics
    • Fashion
    • Gifts
    • Jewelry
    • Causes and Organizations
    • Environment
    • History
    • Holidays
    • Men's Issues
    • Nature
    • Philosophy
    • Politics
    • Women's Issues
    • World Affairs
    • Air Travel
    • Camping
    • Cruises
    • Destinations
    • Outdoors
    • Article Writing
    • Book Reviews
    • Copywriting
    • Fiction
    • Non-Fiction
    • Poetry
    • Quotes
    • Screenplay
    • Tools and Resources