Quantcast
Menu
Save, make, understand money

Credit Cards & Loans

Women more hands-on with family finances

paulajohn
Written By:
paulajohn
Posted:
Updated:
05/12/2014

Females are more clued up about household money than men – but both claim to wear the financial trousers.

A Gocompare.com survey finds that A survey carried out by Gocompare reveals that 68% of men claim to run the household finances, but so do 63% of women.

With only 19% of men believing they run things jointly with their partner, compared to 25% of women, it seems there are different views regarding who actually does what.

The survey found that in fact 44% of women know how much is in bank accounts and on credit card bills, compared to 36% of men. Women are by the bigger spenders with just over a third (34%) of women admitting that they spent the most in their relationship, compared to under a quarter (24%) of men who said that they were the spendthrifts.

On a more sinister note, more women don’t trust their men with money, as 21% confessed to opening their partner’s credit card bill and bank account statement ‘all the time’.

Men are more trusting with only 10% saying they do the same. In fact, just under two thirds (63%) of men said they had never opened their partner’s bank statement or credit card bill, while less than half (48%) of women could say the same.

It’s not surprising, then, that while 69% of men thought that opening someone else’s bills shows that they don’t trust their partner, only 49% of women agreed.

Gocompare.com’s customer insight manager, Claire Peate, said: “Managing household finances is a tricky job and it seems that men and women have different ideas about who takes the lead when it comes to balancing the books.

“Our survey found that women are probably the most hands-on when it comes to money, as 44% are very aware of what’s in accounts and on cards.”

Claire added: “But the surprising statistic for me is that 21% of women say they always opening their partners’ bills, when in fact women themselves admit that they spend the most, with 34% confessing to splashing the cash.

“Managing the family finances together takes the pressure off relationships, and being open about any debts or upcoming bills will make life a lot easier, both financially and personally.”


Share: