Debt management: Women 'more savvy' with their spending in 2010

27/01/2010

Women are proving more 'savvy' with their money and avoiding debt problems that could arise through overspending, a new survey has suggested.

A report from the Co-operative Bank has found that three-quarters of women will not be splashing out on impulse buys in 2010.

Instead, women are more likely to spend wisely or save their money for when it's most needed.

John Hughes, director of retail products for the Co-operative Bank, said: "The research clearly demonstrates that women are now much savvier with the way they spend and save their money."

Results also showed that women were more likely to monitor their spending habits, with 64 per cent now more likely to open a bank statement and 32 per cent regularly checking their online bank balance.

Mr Hughes commented: "They are sticking to a budget and paying greater attention to their bank balances."

The uncertain economic climate is responsible for the cut back in spending, according to the bank.

Tags; Budgeting Advice,

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