Engage Mutual: UK women are more financially savvy than men

22 August 2007
British women are taking control over their finances according to new research by Engage Mutual.

Following a survey of more than 2,000 people, part of an ongoing study into different generations’ attitudes to finances, Engage Mutual has found that women in the UK are not relying on partners to maintain the household budget but are themselves taking financial control with seventy per cent claiming to find it easy to stick to a budget.

The news comes after tempestuous ex-footballer and Sunderland team manager Roy Keane publicly condemned WAGs for controlling their partners’ earnings in order to fund their hardcore shopping habits.

But while WAGs may be spending like there is no tomorrow, 45% of British women claim to take sole responsibility for their finances, with 39% of those sharing the household bills with a partner taking full charge of the financial decisions.

The research also revealed that a further 41% of women are happy to let their other halves have some say over the household finances, but only as far as allowing them equal control.

Karl Elliott Marketing Director for Engage Mutual comments: “Our research reveals an encouraging awareness amongst women to branch away from their stereotypical image of spend-a-holics.

“Just over half (51%) of our customers are female and the number is growing. By recognising the need to ensure they have control over their finances, women are better able to have a secure financial future.”

Further findings show that only 40% of men take sole responsibility for their financial situation - five per cent less than women. However, bucking the trend with a paltry 18% are the women who say their husbands have most control over the family spending.

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