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Women likelier to seek debt advice

Women likelier to seek debt advice

- Wednesday, 2 September 2009

Women are more likely than men to seek debt advice from their friends or bank, according to new research.

Data from Norwich and Peterborough Building Society suggests that men will seek advice less often than women, but are likelier to be better prepared in the long-run.

According to the study, 31 per cent of men know what their pension income will be, with only 18 per cent of women able to say the same.

Caroline Anstee, director of online company elementsifa.co.uk, said that although people's wariness towards fiscal planning was understandable, a consideration of their financial future was a necessity.

She commented: "People are being a little bit more cautious because they have to be and people do tend to focus on the nice things like holidays and put it off but financial planning needs to be done."

According to figures from National Savings and Investments, 63 per cent of people are now more aware of their finances as a result of the economic downturn.

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