Who makes the financial decisions in your house?

Research from leading market research company, Mintel (1) underlines the role women play in influencing important financial decisions made for the family.


Proving what many households already knew to be true, that women hold the purse strings, more than 84% of mums surveyed say they typically have influence when it comes to making financial decisions for the family, compared to 49% who say their partner has influence.


NS&I’s Quarterly Savings Survey (2) issued in April shows that women continue to outpace men when it comes to savings.

The data shows that month on month during the 2015-16 financial year, women saved continually more while men’s saving levels fluctuated.

A recent survey from The Share Centre (3) shows that 60% of women take the lead when it comes to making decisions about stocks and shares Individual Savings Account (ISA) investing.

When asked what they intended to use their ISAs for, 63% of women reported that they were investing for retirement, with the future needs of children and the wish to have money put aside for a rainy day mentioned as secondary goals.


However, when it comes to pensions, the picture shows that many women have yet to make adequate provision for their old age.

A 2015 report by Scottish Widows (4) shows, that although there are positive signs that women in their 20s are beginning to plan for their retirement, the gap between the provision made by men and women widens as they get older.

By their 30s, 48% of men believe they are saving enough for retirement, compared with a figure of just 31% for women.

This can be accounted for in part by the continuing gender pay gap and the high costs associated with raising a family, such as paying for childcare.

However, a lack of awareness around their retirement needs could play a significant part too, with 71% of women admitting that they don’t know how much they’d need to save for a comfortable retirement, compared with 52% of men.

So, if you’ve yet to plan your pension,this could be a good time to sit down with your adviser.


(1) Mintel, Mum’s both queen and king of the household as she leads purchasing decisions across all categories, 2016

(2) NS&I, Britain’s savings levels rise over the year, 2016

(3) The Share Centre, Women and Investing – Taking Charge of the decisions, 2016

(4) Scottish Widows, Women and Retirement Report, 2015


Whoever makes the financial decisions in your home, Logic Wealth Planning are the experts when it comes to advising you on how best to manage your savings and your pension. For more help call 0808 1234 321 to arrange an appointment with one of our experienced professional Financial Advisers. Your first meeting with us is free of charge and without obligation.