Men are better at saving for retirement, women spend more on shoes

A survey by CreditExpert, the UK’s leading credit monitoring and identity protection service, shows men are better at saving for retirement.

Almost 75% have a pension plan, nearly 50% an ISA and 62 per cent have other savings.

In contrast, only 50% of female respondents have a pension, 33% an ISA and less than 50% have any other investments.

And yes the old stereotype that women spend more on shoes appears to be true.

According to a survey by the UK payments association, APACS, women spend an average of £67 a year on footwear. Men spend less than half of that, although they are more likely to face larger restaurant bills.

Women though are more likely to regularly access their bank account details online and use the web to manage their money. 52% of women responded positively to this whereas only 48% of men did.

Darryl Bowman, director of CreditExpert, says, ‘The internet has become a powerful tool when it comes to financial management. One increasingly popular online trend is monitoring your credit report – the personal history of your credit accounts, including mortgages, credit cards and loans, plus your repayment record.’

He went on to say ‘Since new credit applications involve lenders checking your report, it makes sense to ensure it’s up to date and accurate – or you could face an unexpected refusal.’

To find out what your credit report says about you, you can check your Experian credit report online with a free trial of CreditExpert.

As well as ensuring your credit history accurately reflects your personal transactions, by monitoring your credit report of course you can ensure you have not become the victim of identity theft and had your personal information compromised and used by fraudsters in any way.

If there are issues with your credit report the sooner you identify these and take action the better.