According to a recent survey by Sainsbury's Bank, women are bringing up the rear when it comes to male and female saving habits. The results revealed that only 1.7m women have savings in excess of £5,000 whereas the number of men is 3.57m.
On average, men have savings of £4,329 and women have savings of £2,900.
Our View
We are still in times where many men earn more than women for the same jobs. This could have something to do with the difference in saving figures. No matter how much you have in savings, it is what you do with it that matters!
Many people are lazy and will leave their savings in their current account, not realising it is earning no interest.
Instant access savings rates of upto 4.5% gross are available at the moment so get your savings working for you and growth them quicker!