WOMEN TAKING CONTROL OF THEIR FINANCES

The   UK’s   women   are   increasingly   overshadowing their male counterparts and taking control of their finances. A new study by the One account shows that 43 per cent of women feel they are in control of their personal finances, against 37 per cent of men. Additionally, women are seventeen per cent more likely to shop around for a better deal on their mortgage, when their discount period ends.

Christening this new breed of savvy women Sassy (Smart, Ambitious, Self-Sufficient, and young), the One account added that these financially fabulous   females   are   prepared   to   shop around and exploit the best deals available to maximise their cash. “The Sassy woman is emerging as the most formidable figure in today s consumer society. Always the trendsetter, the Sassy is just as eager to make a statement with her personal finances as she is with her sense of style,” said Paul Lloyd of the One account.

Research for the firm found that 45 per cent of women say they regularly shop around for the best insurance deals, with 38 per cent routinely hitting the internet for   best buy   tables for their financial products. Additionally, 44 per cent of females would use penalty-free flexible mortgage features to finance their lifestyles, ahead of more expensive credit card and overdraft rates, versus just 32 per cent of men. With her mortgage, the Sassy woman shops around and understands the market. She is confident she is getting the best deal that suits her lifestyle. She knows how much she pays each month and will re-mortgage if she finds a more suitable prod- uct,” Mr Lloyd noted. “Whereas many men might ignore areas of their finances as they climb the corporate ladder, the Sassy is keener than ever to make the most of her money. Just because she can afford the finer things in life doesn’t t mean she wants to spend over the odds when she doesn’t t have to.”