The issue of who takes charge of household money – and therefore deals with debt – is subject to substantial regional variation, a new survey has foun…
The issue of who takes charge of household money – and therefore deals with debt – is subject to substantial regional variation, a new survey has found.
A study by Yorkshire and Clydesdale banks found that in every region of the country, more men were in charge of the purse strings than women.
However, the gap was a very small one in the East Midlands, with 33 per cent of men and 31 per cent of women in charge.
The north-west is next on the list with 34 per cent of men and 30 per cent of women being boss with the cash.
But while there may be little gap between the sexes in Leicester and Lancaster or Mansfield and Manchester, the situation is very different in some other parts of the country.
The largest gulf is in Greater London, where 41 per cent of men rule the financial roost compared with 24 per cent of women.
Retail Director for Clydesdale Bank Steve Reid said: "It is understandable that household finances are a hot topic for many couples as it is such a big part of cohabiting. What's important is not who does what but that couples play to their strengths."
Such strengths may include one of the couple being better at handling debt management issues, although those in trouble may do well to seek expert help.
The survey is not the only way in which the East Midlands stands out financially, after a recent study by Standard Life found it had the highest average monthly contributions per head towards pensions savings at £172 each, compared with the UK average of £137.
By Joe White