Female consumers 'budget more effectively'

Women have to deal with lower levels of credit card debt than male consumers, figures have suggested.

Lovemoney.com/OnePoll research has shown that a sum of £1,987 is faced by female consumers on average, which stands in comparison to the debt of more than £2,100 incurred by men.

Additionally, it has been found that 54 per cent of males are fully abreast of their family's monthly outgoings, while 57 per cent of women are in this position.

A lovemoney.com spokesperson suggests that credit may prove tempting for men as they look to make technological purchases.

They went on to say: "It's important to keep track of your spending and what you owe on credit cards or loans so that you don't overspend and end up living off credit."

People with queries about products such as credit cards could be set to benefit from the new Money Made Clear service, which was recently extended across the nation by the Chancellor of the Exchequer.

Posted by Gemma Walker.