Women ‘do less well in finances’

On average, women are less “financially fit” than their male counterparts, it has been claimed.

According to finance provider Abbey, women are more likely to be in a position where they might benefit from considering seeking debt help than their male compatriots.

A spokesperson for the firm said that this was largely due to the fact that women spend less time checking for competitive rates on financial products.

Nici Audhlam-Gardiner, head of mortgages at Abbey, said: “The other big thing for women is they tend to save up less than men do, so actually about 70 per cent of women say that they don’t have savings for any more than three months.”

Consumers who are struggling to find funds with which to build some savings might like to consider debt management – or for those in difficulty, an Individual Voluntary Arrangement – to free up the cash necessary.

According to a poll by ICM conducted on behalf of Abbey, the north of England was the least financially fit area of the country, with 46 per cent of consumers in an unhealthy position.