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New research reveals that women wear the financial trousers in UK households - although men disagree!

06 October 2013

A Gocompare.com survey finds that 44% of women know how much is in bank accounts and on credit card bills, compared to 36% of men

It seems that when it comes to household finances men and women have differing views about who wears the trousers.

Research carried out by comparison site Gocompare.com discovered that over two thirds (68%) of men said they look after the finances in their homes - but 63% of women said they did too.

So, do they look after the money jointly? When quizzed, only 19% of men said they looked after the finances with their partner, compared to a quarter (25%) of women.

But the analysis found that women are the more money aware in UK households, as 44% said they knew how much cash was in bank accounts and how much was owed on credit cards, compared to just over a third (36%) of men.

And it seems that despite having a close eye on household cash flow, women are the spenders too, with just over a third (34%) of women admitting that they spent the most in their relationship, compared to under a quarter (24%) of men who said that they were the spendthrifts.

It also seems that women don't trust the men in their lives when it comes to money. Just over one fifth (21%) of the women surveyed confessed to opening their partner's credit card bill and bank account statement all the time. Men are more trusting; with only one in ten (10%) saying they do the same.

In fact, just under two thirds (63%) of men said they had never opened their partner's bank statement or credit card bill, while less than half (48%) of women could say the same.

It's not surprising, then, that while 69% of men thought that opening someone else's bills shows that they don't trust their partner, only 49% of women agreed.

Gocompare.com's customer insight manager, Claire Peate, said: "Managing household finances is a tricky job and it seems that men and women have different ideas about who takes the lead when it comes to balancing the books.

"Our survey found that women are probably the most hands-on when it comes to money, as 44% are very aware of what's in accounts and on cards."

Claire added: "But the surprising statistic for me is that 21% of women say they always opening their partners' bills, when in fact women themselves admit that they spend the most, with 34% confessing to splashing the cash.

"Managing the family finances together takes the pressure off relationships, and being open about any debts or upcoming bills will make life a lot easier, both financially and personally."


Notes to editors:

On the 4th to 5th August 2013, Vision Critical conducted an online survey among 2,001 randomly selected British adults who are Springboard UK panelists. The margin of error-which measures sampling variability-is +/- 2.2%. The results have been statistically weighted according to the most current age, gender and regional data to ensure samples representative of the entire adult population of Great Britain. Discrepancies in or between totals are due to rounding. Of this total sample, 1,278 respondents identified themselves as currently being in a relationship.