Women more aware of family finances

Women are more clued up than men when it comes to the family finances, according to a new survey.

In a poll administered by gocompare.com, 44 per cent of women claimed that they knew exactly how much cash was in their bank accounts and on their credit cards, whilst just 36 men said the same.

The survey also revealed that couples tend to disagree when asked who is in charge of the family finances.

According to cleardebt.co.uk, 68 per cent of men said that they took charge of the finances, but 63 per cent of women said it was actually they who took on this task.

Less than a quarter of the survey's respondents said that they managed their finances jointly with a partner. Claire Peate, who is a customer insight manager at gocompare.com, believes it could be beneficial to do this.

Speaking to yourmoney.com, she said: “Managing household finances is a tricky job and it seems that men and women have different ideas about who takes the lead when it comes to balancing the books.”

“Managing the family finances together takes the pressure off relationships, and being open about any debts or upcoming bills will make life a lot easier, both financially and personally.”