Survey Discovers British Women Lack Saving Savvy

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5th March 2012 17:56 - Financial Services

A survey by Barclays, CARE International UK and Plan UK for International Women's Day has discovered that British women have a bad attitude to saving, earning and understanding money.

Even compared to 94% of women in Ghana who save money yet many of whom live on less than $2 a day, only 55% of low-income female Britons put any money aside each month.

In terms of the reasons why UK women fall so short in terms of saving money, the research found that they lack optimism about their own future – only 57% of young women in England are expecting to earn more in the future compared to 87% in Ghana.

Furthermore, only 64% of the female British surveyants are positive about their children’s prospects and believe they will have a higher level of disposable income than themselves. This compares to 97% of women in Ghana.

The research also found that only a third of females in the UK consider themselves ambitious compared to 79% in Ghana, while a mere 41% of young female Britons want to run their own business in contrast to 90% in Ghana.

Chief Executive at CARE International UK, Geoffrey Dennis, commented: "This survey shows that no-one is too poor to save. We know that savings are a safety net – with tiny amounts of money, people can literally save their way from the edge of poverty and go on to invest in the future of their family. The women in Ghana we surveyed are leading the way and we have much to learn from them."

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