Unlike spendaholic WAGs, British women are taking financial control with almost one in two (45%) saying they take sole responsibility for their finances. And of those who share their finances with their partners, 39% say they have more control over the purse strings than their partner
engage Mutual surveyed a GB representative sample of over 2,000 people, as part of its ongoing research into different generations attitudes to finances. The results have revealed a generation of women taking the financial reins.
Further findings from the research reveal that only 40% of males say that they take sole responsibility of their finances “ five per cent less than women.
41% of women are prepared to let their husband or partner have some say over the household finances, but only as far as allowing them equal control.
And disproving the traditional notion of men controlling the household bills, only 18% of women say their husbands have the most control over their family finances.
Overall, Seventy per cent of women say they find it easy to stick to a budget.
Karl Elliott Marketing Director for Engage Mutual said:
“Our research reveals an encouraging awareness amongst women to branch away from their stereotypical image of spend-a-holics. Just over half (51%) of our customers are female and the number is growing. By recognising the need to ensure they have control over their finances, women are better able to have a secure financial future.”
“However, it is still important for all family members to save for the future and as a modern mutual, engage looks to make it simple and easy with financial savings solutions allowing families to save what they can afford to each month.”
engage Mutual can be contacted on 0800 169 4321 or by visiting www.engagemutual.com
The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.
Notes to Editors
* According to The Times, 15/8/07
- this research was undertaken by YouGov on behalf of engage Mutual Assurance. The survey was conducted on between 30 April 2 May 2007 across a representative GB sample of 2,271
- if using this article on a website, please link to www.engagemutual.com using the following hyperlink text : engage Mutual Assurance – meeting the changing needs of today's modern families
- engage Mutual Assurance is a trading style of Homeowners Friendly Society (HFSL) and its wholly-owned subsidiary engage Mutual Funds Limited (EMFL).
- engage Mutual Funds Limited (EMFL) is a provider of the Child Trust Fund direct and in partnership with partners including Legal and General, ASDA and Debenhams stores.
- engage supports mutuality, friendly societies and the regional financial services industry through links with the Association of Mutual Insurers, the Association of Friendly Societies, Mutuo and Leeds Financial Services Initiative.
- established in 1980, Homeowners Friendly Society Limited (HFSL) is Registered and Incorporated under the Friendly Societies Act 1992, Reg.No.964F, its wholly owned subsidiary engage Mutual Funds Limited (eMFL) is Registered in England No 3224780. Both are authorised and regulated by the Financial Services Authority (FSA).
- Homeowners Friendly Society Limited’s FSA Register number is 110072 and engage Mutual Funds Limited’s FSA Register number is 181487. You can check this on the FSA’s Register by visiting the FSA’s website www.fsa.gov.uk or by contacting the FSA on 0845 606 1234