Women worry NS&I: Gender Savings Gap Escalating |
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Published
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Mon, 07 Mar 2005 01:00
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The National Savings and Investments (NS&I) quarterly survey brought to light an interesting revelation wherein women were found to be lagging behind when it came to saving money. Statistics showed that in every 1469 adults, women saved only 6.58% of their monthly income as compared to men who reserved 7.26%. Men also have higher average salaries than women. This coupled with their greater probabilities to save have soared men’s savings to a grand average of £7,000. (NS&I) survey. This whopping savings gap between genders was a definite cause of concern according to the NS&I, as it only seemed to escalate by the day.
It was also made clear that even though women’s salaries were lower than men’s on an average, a lower amount of savings could not be expected from them since they were saving a lower percentage of income than the men. This apparently meant that the net savings were only on the decline when compared to the men.
| Nevertheless, the study unveiled certain positive facts where people in general had fared well this quarter and had recorded greater savings on an average against the previous quarter. Data show that the average savings this quarter (to the end of February) to a total of £51.03 whereas the savings recorded last quarter summed up to a meager £32.97.
What’s more, Yorkshire, infamous for spendthrifts, was truly a pleasant discovery this quarter. Here, 6 out of every 10 people were found to be saving part of their monthly income when a region wise analysis was done. Contrarily, the population in the East Midlands failed miserably in this respect with less than even one half of the entire lot saving regularly.
Statistics:
Source: National Savings and Investments
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