Women are more likely to take a prudent approach to their finances while men are more bullish, according to latest findings from the British Market Research Bureau (BMRB) Consumer Confidence Survey.
Only 1 in 10 adults say they definitely feel financially secure in the current economic climate, but women (6%) are less than half as likely to feel financially secure as men (14%).
More women are likely to have cut back on purchases recently (75%) than men (67%). Indeed men seem to have a much more gung ho attitude with 29% spending “exactly as I did before” compared with 22% women.
In terms of what people are reducing expenditure on, men are more likely to cut back on eating out (36%) than women (30%), while women (14%) are nearly twice as likely to cut back on clothes (8% men)
A third of all adults are likely to spend £3000 or more on a single item of expenditure in the next 12 months. Again, this is more likely among men (38%) than women (27%).
In their general attitude to money, BMRB’s latest TGI data shows that more women (58%) believe they are very good at managing money than men (53%) and that they have a higher propensity (68%) to spend money more carefully than they used to, than men (63%).