Men vs Women: Who are the better savers?

The information provided in this article was accurate at the time of publishing and should be read in the context of the date it was published.

Here at Scottish Friendly, we recently ran a survey on our website about your saving plans and habits.

The survey was conducted in 2012 over a period of 4 weeks and received over 1,600 responses.

After generating some key statistics, we produced this infographic to illustrate our findings.

Our key to splitting the results was Men vs Women.

Take a look at our findings:

Men vs women infographic

The findings

As you will see, men lead the pack. They tend to be happier with their savings, and are more likely to make monthly savings than women.

Our study showed that women are around 6% more likely to resolve to save more.

What do men and women save for? Our study showed a close correlation on most topics, with men and women both saving for a rainy day, holiday, and a rare shopping spree. Meanwhile men were more forward-thinking in their savings. Men are ahead in saving for key life events, particularly in saving for a child’s future, putting together a deposit for a house and, especially, in preparing for retirement.

Let us know

What are your saving habits? Does this survey represent you? In which key areas are you similar to, or different from, our survey respondents?

Let us know on Twitter @scotfriendly #menvswomen.

Saving and Investments

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No advice has been provided by Scottish Friendly. If you are in any doubt as to whether a savings or investment plan is suitable for you, you should contact a financial adviser for advice. If you do not have a financial adviser, you can get details of local financial advisers by visiting www.unbiased.co.uk. Advisers may charge for providing such advice and should confirm any cost beforehand. Tax treatment depends on your individual circumstances and tax law may change in future. Stock market investments can go down as well as up and you could get back less than you have paid in.