Men and women 'show different financial habits'
15/08/2006
There are "distinct" differences between the way men and women use cash machines and money in general, new research shows.
Clear differences can be seen in the contents of wallets and purses, as well as the amount of cash machine visits, according to a You Gov survey, commissioned by UK cash machine operator Link.
The survey shows that cash machine users can be divided into two groups – 'feasters' and 'nibblers' – with the former withdrawing £100-plus once or twice a week and the latter taking out £20-£30 on regular occasions.
According to Link, men are twice as likely to be money 'feasters' than women and will more regularly carry over £20 in their pockets.
Additionally, 12 per cent of men admit to withdrawing money when drunk – and not remembering they did so in the morning; this is true of five per cent of women.
Edwin Latter, spokesperson for Link, said: "As operators of the UK's cash machine network, we are very interested in understanding people's attitudes to cash and what factors determine their use of cash machines."
"The statistics show some very distinct withdrawal patterns between genders," he added.
Research earlier this year by National Savings and Investments suggests that women save more of their monthly income than men, with women saving 6.84 per cent compared to men's 6.37 per cent.
Clear differences can be seen in the contents of wallets and purses, as well as the amount of cash machine visits, according to a You Gov survey, commissioned by UK cash machine operator Link.
The survey shows that cash machine users can be divided into two groups – 'feasters' and 'nibblers' – with the former withdrawing £100-plus once or twice a week and the latter taking out £20-£30 on regular occasions.
According to Link, men are twice as likely to be money 'feasters' than women and will more regularly carry over £20 in their pockets.
Additionally, 12 per cent of men admit to withdrawing money when drunk – and not remembering they did so in the morning; this is true of five per cent of women.
Edwin Latter, spokesperson for Link, said: "As operators of the UK's cash machine network, we are very interested in understanding people's attitudes to cash and what factors determine their use of cash machines."
"The statistics show some very distinct withdrawal patterns between genders," he added.
Research earlier this year by National Savings and Investments suggests that women save more of their monthly income than men, with women saving 6.84 per cent compared to men's 6.37 per cent.
