A survey conducted by BlackRock’s Investor Pulse indicates that men are worse than women at handling everyday finances.
Saving money is seen as a priority by 47 per cent of women who responded to the survey, whilst for men this figure was just 42 per cent.
48 per cent of men responded to say they were concerned about daily financial risks related to high living costs, whilst for women this figure was 59 per cent. In terms of paying credit cards off, it was seen as quite a high priority by 30 per cent of women, but only by 26 per cent of men.
Both men and women were found to have the same amount of debt, in proportion to the salary they earned, of 22 per cent, but the survey indicated men were more likely than women to use payday loans to help them pay off any debt they had.
Men were found to be more likely to have a bank loan, with 18 per cent of them having one, whilst for women it was lower, at 13 per cent.
“Women are savvy when it comes to managing money in their pocket, and have a better grasp of the risks that could derail them financially,” said Claire Finn, of BlackRock.
“This approach has mean that those in their twenties and thirties have prioritised buying a property compared to their male counterparts.”
