Women “very independent when it comes to money”

There should be no difference in the way men and women save, according to AWD Chase de Vere.

Despite recent reports that women have less savings than men, the financial advisers claims it is important that both sexes budget and work out how much money they have left to put away.

Although it used to be customary for women to rely on their husbands or partners for savings, nowadays more and more women are “very independent when it comes to money”, said Susan Hannums, savings managers for the firm.

“Once you’ve worked out exactly how much you can afford to save, make sure you’ve used all of your available tax-free, tax efficient savings vehicles”, she advised.

Research by the Fawcett Society found that despite having less debt than their male counterparts, women were more likely to fall behind with credit card repayments or bills.

It also revealed that single women with children put away the least amount of money for the future.

© Adfero Ltd

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