Women in their 30s and 40s struggling to save money, study finds

Around one in four women aged between 35 and 45 currently have no savings account to speak of, it has been revealed.

Looking into the personal finances of this 'rudderless' demographic, the new study carried out for F&C found that around a third of adults in the age bracket has enough 'rainy day' money put away to cover several months of outgoings, in line with standard advice.

At the same time, however, it was revealed that, when broken down, just 27 per cent of women follow this advice, compared to 40 per cent of men.

Furthermore, 34 per cent of women, compared to around a quarter of male 35-to-45-year-olds have no savings at all, with shortcomings also apparent in pension plans and other financial investments.

On a more positive note, 35 per cent of women and 26 per cent of men polled for the study stated an intention to step up their savings and investments efforts over the course of the current year.

Commenting on the findings, Scott Stevens, head of global wholesale and marketing at F&C Investments, concluded: "While some of the results of this survey are encouraging, there is a real need for people in this age group to sort their financial lives out."

Just recently, a study carried out by Barclays found that around half of all Britons feel that the recession has not had a negative impact on their savings habits.

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2010-02-18 14:04:07 © Moneyextra.com