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Men handle family finances better

sex-and-relationships Updated: Dec 27, 2012 20:44 IST

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Though women usually take charge of the household finances – they are less confident than men at sticking to budgets, a survey has revealed.

While fifty-one per cent of females said they maintained complete control over the family purse strings, only 36 per cent of males admitted doing so.

But 58 per cent of men claimed to be confident about their ability to spend within planned limits, as opposed to 56 per cent of women, according to the survey of more than 2,000 households conducted by the Money Advice Service.

A separate study has found that women now control the budget for the majority of households where couples are under the age of 45, the Daily Mail reported.

The Lloyds TSB Family Savings Report predicted that females would be making the most important long-term financial decisions by 2020, such as choosing a mortgage.It also found 91 per cent of households where women were in charge of the long-term financial planning had savings, compared with 82 per cent of families where men had greater responsibility.