You are here: Home - Saving & Banking - News -

Spending and savings habits of Britain’s 40+ women

Written by:

British women aged 40+ are more in control of their finances than ever before, according to a new survey by Icesave, the online savings account provider.

The survey found that a third (37%) of 40+ women are the chief income earner in the household.  They also have a traditional pension (70%), an Isa (60%), life assurance (34%) and stocks and shares (29%).

1 in 4 of these more youthful 40+ women make the major spending decisions (the rest will make a joint decision) as opposed to their partner (2%). These women also save an average £200 per month, with 10% saving between £300 and £700 each month. 

I in 4 women said that they secretly save money, mainly for emergencies, although other reasons cited were for personal treats and because their partner is unreliable with money. 40 per cent pay the bills and run the finances with slightly less saying they do this jointly and 12% leaving it to their husband. A third said that they have a separate current account from their partner with only 20 per cent admitting to having only a shared account.

Mark Sismey-Durrant, Managing Director of Icesave comments: “In today’s unpredictable financial climate, prudent women are making saving a priority.  Not only are they making sure they have a buffer to deal with the unexpected, they are also making sure they can afford regular treats.  By taking advantage of consistently competitive interest rates, they can create a nest egg that can be accessed quickly if needed in an emergency without incurring any penalties.”


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:
Financial advice from family and friends

Almost two thirds (63%) of people will trust a financial adviser if they come recommended by friends and family, according...