Money Management

Men 'more confident' about dealing with debt than women

18-03-10, 08:55 in Money Management
Men 'more confident' about dealing with debt than women
British men believe that they would be better at dealing with a bad credit rating and other financial issues than women, research shows.

Half of men rate their financial IQ as either "good" or "excellent" compared to just a third of women, according to a survey by Scottish Widows.

Financial problems such as efforts to manage credit card debt occupy Brits' minds for an average of 11 hours per week, the poll suggests.

However, when it comes to worrying, younger Brits aged between 18 and 34 years old spend two hours per week more dwelling on their finances than those aged between 34 and 55.

Commenting on the results of the survey, savings expert Iain McGowan suggested that everybody has concerns that "keep people awake at night".

However, he conceded that the amount of time Brits appear to spend worrying about money management issues is "incredible".

Earlier this week, Consumer Focus energy expert Jonathan Stearn explained that warned that further action needs to be taken to improve British consumer approaches to dealing with energy finance.

Posted by Gemma WalkerADNFCR-2660-ID-19677560-ADNFCR

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