Women becoming savvier savers in 2010

by Richard Kilner

Story link: Women becoming savvier savers in 2010

Research commissioned by The Co-operative Bank reveals that three in four women will not embark upon impulse buying this year.

The findings also show that three in five women intend to spend less on clothing in 2010 and four in ten less on fashion accessories and eating out.

The continuing difficulties of the economy, which scraped out of recession with anaemic growth of 0.1% in Q4 of 2009, have led to 75% of women planning on spending less and saving more.

Food, wine and presents for others top the list of items that women are still willing to spend on despite economic anxiety.

Director of Retail Products John Hughes has said that the research reveals a much savvier approach by women towards spending and saving, including paying greater attention to their bank statements.

The research follows similar work by the Nationwide, which found that consumers saved less during December, and 25% of people saved nothing at all.