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)

Here's how much time Facebook CEO Zuckerberg spends in office Apr 16, 2:05 pm
Washington, Apr. 16 (ANI): Facebook CEO Mark Zuckerberg has said in a surprising revelation that the amount of time he spends in the office is about 50-60 hours per week which is close to normal for other employees.
Full Story
Warm friendly candidates likelier to get jobs than anxious, slow talking counterparts Apr 6, 10:35 am
Washington, Apr.6 (ANI): A new study has revealed that people should more focus on being warm, friendly and assertive during the job interviews rather than being anxious.
Full Story
External CEOs better-suited for struggling businesses than internal ones Apr 4, 11:06 am
Washington, Apr 4 (ANI): A new study has revealed that externally chosen CEOs can rejuvenate struggling businesses.
Full Story
Tim Cook 'disappointed' by new Indiana law that could allow companies to discriminate against gays Mar 28, 10:15 am
London, March 28 (ANI): Apple CEO Tim Cook has said that he is "deeply disappointed" by the new law passed in the US state of Indiana which could allow companies to discriminate against gay and lesbian customers.
Full Story
Comments

LATEST STORIES
TOP VIDEO STORIES
PHOTO GALLERY