An engaging survey into saving

Celebrities are often blamed for leading fashion-loving females into overspending on their credits cards, but a new study has found that women are actually surprisingly savvy about saving their money.

Despite earning an average of 30 per cent less than men (whatever happened to gender equality?) the research suggests that women find it surprisingly easy to save their cash. In fact, when it comes to saving money, women find it less of a challenge than sticking to a healthy diet.

In an attempt to understand how attitudes to saving compares to other day-to-day disciplines, Engage Mutual Assurance questioned over 2,000 adults on which aspects of their lives they are able to maintain self-control over.

More than two in three women in the survey find it relatively easy to stick to a savings regime (67 per cent), but many find it more difficult to eat healthily. More than one in two women say they would be unable to stick to a diet for six months (56 per cent), whilst 40 per cent find it impossible to follow a healthy eating plan. More than half (52 per cent) find it difficult going to the gym or exercising regularly.

Despite being far more likely to cave into chocolate cravings than men (39 per cent compared to 20 per cent of men), women are in fact moderately better than men at sticking to a budget (70 per cent compared to 68 per cent of men).

Although young adults are facing the financial challenges of climbing onto the property ladder and lower salaries, it is in fact people aged between 35 and 44 who find it hardest to budget. Forty per cent of people in this age group, who are likely to have young families, are unable to save money for the long term, compared to 32 per cent of Brits on average.

Karl Elliott, marketing director at Engage Mutual Assurance, comments, “The good news from these results is that many Britons actually find saving as part of their day-to-day lives relatively easy. 

“When you compare saving for the future to other common lifestyle challenges, you realise that getting into the habit of saving can be easier than changing your diet. 

“By getting into the habit of saving, more often Brits can help secure both their own and their family’s future.”

Equally important, you’ll be able to afford to go on a shopping splurge when it takes your fancy without maxing out your credit card. Just don’t buy clothes that you need to lose weight to squeeze into if you are one of many women who find it impossible to stick to that diet or go to the gym.

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