In terms of the percentage of income saved, men have overtaken women for the first time since the summer 2011, putting aside 7% of their incomes each month – equivalent to £103 in real terms – while women are saving just 6.84% or £72.

Though men are saving a greater percentage of their income each month, it is the lowest proportion since summer 2012. Savings levels by women are at their lowest since autumn 2010.

The research found that almost a quarter of women (24%) did not put any money away each month, compared to just over a fifth of men (22%). This reversal of savings behaviour may last a little while yet as 18% of men said they were more likely to save money in the coming three months, as opposed to 15% of women.

Furthermore, an increasing number of men (57%) feel they have enough money in savings to cope in an emergency, compared to 48% of women, showing that for the second time in the last year the gap has widened between the two genders. In autumn 2012, 54% of men had enough in savings should an emergency occur, compared to half (50%) of women.

The majority of age groups are saving less in terms of the percentage of income saved each month, with only those aged 35-44 are saving more.

John Prout, NS&I Retail Customer Director, said: “The results of our latest Savings Survey show an unsettled picture with unusual savings behaviour. Savings levels have decreased from the high levels recorded in the last quarter, and it appears women are under the most pressure financially with their savings levels dropping to 6.84% of their income each month, £72 in real terms. They haven’t been quite so low since Autumn 2010.”