Women 139% more in debt than men

In the Sesame survey, women aged over 35 owed on average £8,219 while their male counterparts only owed £3,436, yet 57 per cent of women admitted to being ashamed about the amount they owe.

Alastair Conway, head of customer propositions at Sesame, said of the findings: “Never mind binge drink Britain, there is a growing epidemic of binge debt Britain that could prove to be just as detrimental to women’s financial health as binge drinking is to their actual health.”

His comments come as Britons of both sexes are urged to seek out debt advice to help get them out of repayments.

Without such a debt management plan, Mr Conway warns of a retirement filled with repayments.

“It seems that women are being clobbered from both sides, with accumulated debt being compounded by the difficulties many women face in funding an adequate income in retirement,” he said.

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