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Women 'should boost financial fitness'
04 February 2008
Women should spend more time reviewing their mortgages if they want to reach the same 'financial fitness' as men, according to new research.
A survey conducted by ICM for Abbey revealed that 46 per cent of women were deemed to be 'financially overweight' - or lacking financial savvy - compared to 41 per cent of men.
The study, which considered financial products, competitiveness of the products and the frequency with which people shop around, revealed that women lag behind their male counterparts.
Abbey head of mortgages Nici Audhlam-Gardiner said: "The key thing is that women do less well in their finances than men at the moment. First of all, they spend less time reviewing their mortgage to make sure that it's on a competitive rate."
She also noted that women have less in their savings account, with 70 per cent claiming to have either no savings or not enough to see them maintain their standard of living for three months.
