You are here: Home - Credit Cards & Loans -

Women tightening the purse strings

Written by:

Results from the latest Legal & General (L&G) survey show women seem to be feeling the financial pinch more than men.

Its latest MoneyMood survey reveals the mood for spending among women was down 18% since last month, and the lowest for over a year.

Julia Clayworth, Legal & General’s wealth management head of marketing, said: “What is really interesting about this month’s results is that it is clear that the reported economic downturn is not having a uniform impact.

“Although it is good to see people are exercising caution with their spending, they are not changing their behaviour dramatically. It will be really interesting to see next month’s results which will be taken after the recent stock market volatility and see if this has filtered down to people’s spending behaviour.”

This month has seen an interesting split in spending habits between the different age groups. A quarter of 18-24 year olds are in the mood to spend, but only 17% of 45-54 year olds feel the same. The biggest actual drop in ‘mood to spend’ comes from the 55-64 age group, where L&G reports an 18% drop.

Clayworth added: “It is possible that the older generation have a clearer memory of previous recessions and are acting cautiously as a result of this. As people become more cautious with their spending habits, now is the time to really think about building a savings plan which could prove invaluable if the recession really takes hold. Even saving just a few pounds a month could make all the difference if times get tough.”



Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
ISA rates on the rise as tax deadline looms says savers are being spoiled for ISA offerings with Barclays and Abbey’s new accounts offering 6.5% and 6.25% respectively.