Recent research has shown that women are more worried than men about debt and men are more adept at planning for the future.
According to a survey that has been carried out by Experian, the
credit reference agency, around a third of women are concerned about their level of debt – where this
rates as a worry with just over one in ten men.
It seems that women are concerned about all aspects of debt, including their repayments to
mortgage lenders,
car financing,
credit card, and the general cost of living.
Around three quarters of women who have generated their debts due to living cost are worried about them. However, only half male respondents who are in the same situation were found to feel the same.
Despite the fact that women seem to be more concerned about their financial situation than men, Experian found that they do not seem to be planning for the future.
The survey figures show that only half of women have
pensions and just over a third have tax-free
investments, specifically an Isa. Men easily surpass these figures, with 74 per cent of them having pensions and around a half have an Isa.
Jim Hodgkins, managing director of CreditExpert, states that although in terms of "financial know-how" individuals should seek to understand their credit score in order to secure "their financial future".
