Women control the finances

Wednesday 28th November 2007

Our online survey with Icesave reveals that British women aged 40+ are more in control of finances than ever before.

Over 2170 women responded to our online survey, giving us a revealing insight into the modern woman's brand new attitudes to money. Increasingly, these women are living independent financial lives and yet, have a refreshingly responsible attitude towards finance.

Earning power
37% are the chief income earner in the household.

Secret savings
1 in 4 secretly save money. They save mainly for emergencies, but also for personal treats and because their partner is unreliable with money.

A third have a separate current account from their partner. Only 20% said they only have a shared account.

The women save an average £200 per month. 10% save between £300 and £700 each month.

Luxury treats
11% admitted to spending £1000 on a treat purely for themselves.
Their motto is “I budget but make sure I have at least one luxury a month” and “I work hard and deserve to spend whatever I like on myself”.

Credit savvy
Despite reports that the nation is spiralling into debt, our respondents have a responsible attitude to credit. Over 50% use credit cards but pay them off each month. 16% never use them.

Sue James, w&h's Editorial Director says:
"The days when the man of the house was usually in control of the family purse are clearly consigned to history. 40+ women are now clearly focused on earning money and both spending and saving it. And they are sophisticated in the ways they choose to spend and save.”

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