Women save more than men despite earning less

   Dec 3, 3:26 pm

London, Dec 3 (ANI): Women in Britain end up saving a larger chunk of their income compared to men, a new study has revealed.

The fairer sex usually put aside 7,981pounds or 40 per cent of their gross average earnings on the other hand, men save 7,657 pounds, which is just 23 per cent of their typical salary.

The only places in UK where men were found to have saved more than women were Scotland and the North of England.

Researchers at the Halifax suggested women's savings were likely to have been boosted by wealthier partners transferring cash for tax purposes, as well as the numbers of older women inheriting money after their husbands had died, the Daily Mail reported.While women typically have slightly higher savings balances than men, the difference as a proportion of earnings is quite substantial," Halifax economist Martin Ellis said.

"Female savers seem to be managing to devote more of their earnings to savings."

The report revealed that the customers in the South had a typical balance of 8,734 pounds, which is 29 per cent of gross annual earnings for those regions.

While, those in the rest of the UK had a slightly lower balance of 7,759 pounds, but had put a higher proportion of income away, which was at large 33 per cent.

The Halifax used its savings database to compile the report, alongside official statistics on earning s. (ANI)

Worst job interview mistakes revealed Apr 15, 2:26 pm
Melbourne, April 15 (ANI): Most candidates are nervous before a job interview, but they need to be very careful that they don't make major mistakes due to stress.
Full Story
Dependence on email hinders business productivity Apr 12, 2:39 pm
Wellington, April12 (ANI): Employees dependence on email as the primary mode of communication has caused a lack of business productivity.
Full Story
French workers now have legal right not to be contacted after they leave office Apr 10, 4:28 pm
London, April 10 (ANI): Bosses and unions representing more than a million white-collar employees have signed a contract to adopted a strictly enforced 35-hour working week.
Full Story
Sheryl Sandberg says there's 'real pay gap' between men and women Apr 10, 3:22 pm
Washington, Apr 10 (ANI): American businesswoman, activist and writer Sheryl Sandberg has reportedly said that there is a real pay gap between what men and women earn.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY