Men 'more cautious with finances'
Men are proving more cautious with their finances in the credit crunch than women, a survey says.
One in five men have admitted revising their savings and investments in the light of the recent economic downturn, compared with 13% of women, according to a survey by investment provider Skandia.
In preparation for a financial squeeze 17% of men are tightening their belts and put aside one tenth of their monthly salary, compared with 13% of women.
And men have shown themselves to be more cautious with their spending too, with 25% claiming to have put expensive holiday plans on hold. However, only 17% of women said they were prepared to do without the luxury of a holiday.
Michelle Cracknell, strategy director at Skandia, said: "Men are acting cautiously in their approach to savings and investments compared to women who are more optimistic about the future and are not yet ready to alter their spending habits.
"Given the current economic climate, it makes sense to review your situation and have a financial plan."
