Women ‘confess more readily to money problems’

Women are more likely than men to own up when they are having financial difficulties, an expert on finance has said.

Writer and broadcaster on money matters Jasmine Birtles stated that a woman will tend to quickly adjust to a problem situation by prioritising bargains, while a man will often be slower to respond and have his “head in the clouds for a bit”.

However, while females are “more likely” to confess their problems, Ms Birtles noted that the usual response is to seek advice from banks, something she said is the “worst thing” they can do.

“This is something that needs to change as they are far too trusting of banks and banking institutions,” Ms Birtles argued.

A survey by National Savings and Investments revealed this week that the majority of Britons have become more aware of the need to handle their financial affairs.

It found that 63 per cent have responded by increasing their focus on the issue.

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