A report by IFA Promotion has revealed that men are better savers than women who are putting away less money than they were a year ago, and least willing to face financial problems. Only 54% of men and women, who claimed that they could not save more, were not prepared to reduce their spending. If their salary rose by a quarter, 60% said that they would spend the extra on holidays, and 58% said that home improvements were more important than saving. The research also showed that there was a big gap in what people thought they ought to save, and what they actually did save. Almost half of the people questioned would turn to someone else if they got into financial trouble. 22% would turn to their family, while only 21% would go to a bank.
Our view:
Man, woman or beast, we all need to save more.