Women thinking less of rainy days than men

25 April 2005
Rainy days are far from the minds of many women according to new research which found that a large number of women are not saving for the future.

A major report from research firm Mintel found that 36 per cent of women are not putting money aside, compared with 30 per cent of men.

Whilst the report's authors pointed out that this is attributable at least in part to the fact that many women still work less and earn less than men, they also said that it had something to do with a more spendthrift feminine approach to money.

"Obviously, there are a number of women who are not in a position to work and have no personal income to use for savings," said Paul Davies, senior finance analyst at Mintel.

"But one other possible explanation is that a greater proportion of women than men suggested that 'I love to spend it, as soon as I get it' was an apt way of describing their approach to personal finances."

Men are not far behind women when it comes to failing to save, however - the report found that one in three British people overall are not putting money aside.

Almost half (44 per cent) are only saving up to £100 a month in any type of savings account - including investments and pensions, the report found.

"Clearly, given the growing necessity for the nation as a whole to be increasing its overall level of savings, these results are extremely worrying, particularly in light of the pensions time bomb," Mr Davies commented.

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