Female Power over Saving and Budgeting

Published on 1 January 1970 by Raffick Marday

Women are taking control of the family finances a new study reveals, with many aiming to influence others with their good saving habits.

According to Halifax Savings the ‘Independent Women’ are taking over the world as nine out of ten women consider it important to have their own savings.

Over half of the women surveyed think it is important to retain financial independence, and 18 percent to have a financial safety net in case anything goes wrong in a relationship.

While 15 percent are just keen to control their own spending and saving habits.

“It is interesting to see how important it is for women to establish their own savings, maintain control over them and the financial purse strings in the household,” said Flavia Palacios, Halifax Savings head.

“Getting into the savings habit and maintaining control over your saving and spending habits is good advice for anyone.”

A significant 35 percent of women take responsibility for the household budget with 59 percent sharing the responsibility with their partner, and only two percent hand over responsibility completely.

London women have a stronger desire for financial independence, with 54 percent taking the lead on financial decisions.

When it comes to smaller financial decisions such as buying food and clothes, 67 percent make these decisions themselves, compared to 57 percent on a national level.

Financial Control with a Clearcash Pay As You Go Card

If you retain control of the family finances, or want to rein in your own spending to be able to save more, check out a Clearcash Pay As You Go Card.

Only the funds that you load onto the card can be used to make purchases so it is a good way to prevent overspending.

Each prepaid card differs in their charges, but the Clearcash Pay As You Go Card only has a small £4.50 application fee, 2.5 percent transaction charge, with no monthly charges and only £0.75 ATM fees.

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