Women ‘to reign in spending’

Some 60 per cent of women are planning to spend less on clothes in the coming year, according to new research from the Co-operative Bank Savings.

The survey indicated that women are planning to cut back on purchasing items such as takeaways, magazines, nights out, meals out and household goods.

A total of 75 per cent of women claim they have recently made efforts to curb their spending, with many choosing to stick to a budget in the new year, according to John Hughes, director of retail products for the financial organisation, who highlighted the importance of saving regularly.

“Saving can be hard immediately after the festive period but saving regularly throughout the year can make a big difference in the long run, whether saving for a specific event like a summer holiday or just for a rainy day.” he said.

However, the survey also identified a number of items women may be more likely to splurge on, including food, wine, some makeup items and presents for their significant other.

Figures from PayPal indicate that shopping habits have changed since the recession began, with some 58 per cent of consumers becoming more conscious of the price of goods and services.

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