Women ‘more thrifty’ than men during recession

Women are more likely to cut back during difficult economic conditions than their male counterparts, according to research.

A Legal & General survey of 4,000 people revealed that top of the list on day-to-day savings made by females was spending less on the weekly shop, with 56 per cent revealing they are taking this action compared to 41 per cent of men.

Less visits to the hairdresser was another area where women felt they could put money aside, with one-fifth choosing this option, while only 9 per cent of men agreed.

High street spending was deemed important by both sexes as a means of frittering away less cash, as 47 per cent of men and 60 per cent of women are taking steps towards reducing the amount wasted in shopping sprees.

A recent Scottish Widows Pensions report discovered that 59 per cent of men are putting enough money aside for retirement compared to only 47 per cent of women.

By Francis Finch