First Choice Finance - Mortgage Broker First Choice Finance Compare Home Owner Loans
First Choice Finance - Mortgage BrokerCompare Home Owner Loans

Battle of the sexes Women and money management

Battle of the sexes Women and money management

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Video transcript

New research claims to have finally answered the question, who is better at managing their finances? Men or women?

Well, according to a new poll of more than 31,000 adults spanning 20 nations, BlackRock believes it could be in a position to put this topic to bed, once and for all.

The firm`s new Global Investor Pulse report has highlighted a range of pertinent statistics that appear to show women are, in general, more on the ball when it comes to managing their finances.

According to the report`s findings, 47 per cent of female respondents stated that they treat saving for the future as a financial priority. This compared to just 42 per cent of men.

Meanwhile, women were more likely to show concern towards day-to-day financial risks, such as the current high cost of living and rising inflation - an issue that was raised by 59 per cent of women, compared to 48 per cent of men.

What`s more, the research also revealed that when it comes to clearing debts or paying off credit cards, 30 per cent of women said that this would be a high priority when working out their monthly spending, while just 26 per cent of men made the same claim.

Overall, the data made for interesting reading when it came to showing the differing attitudes between men and women in general surrounding money management, with female respondents shown to be better at handling their daily finances.

However, despite their savvy spending habits, women are generally less confident when it comes to investing, with just 28 per cent believing investment is something they should actively be pursuing.

Conversely, more than one third of male respondents 36 per cent said they feel knowledgeable about investing and believe this is something for them.

Responding to the report and its findings, head of DC Investments at BlackRock Claire Finn stated that it is great news that women are on top of their day-to-day finances, but many could be doing more to prepare for their retirement.

She concluded that gaining greater confidence to invest would go a long way towards many women being more likely to achieve their long-term savings goals.

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