Gender savings gap revealed

Men and women save for different things. Men save for the future and women save for the short term. Women save to meet short term goals like paying for holidays and men save in case of emergencies, according to a new survey detailing male and female attitudes to saving. Carried out by NS&I Saving, the report highlights that over two fifths of women set cash aside for a holiday where as just under a third of men save up for long term targets covering things such as emergencies. More than a quarter of men said they are saving for retirement where as just 14% of women said the same.

Singletons save more than married couples

Single people save more than couples, according to a survey by National Savings & Investments (NS&I). Singletons attempt to save over 18% of their income each month, which is about 3% more than married or cohabiting couples. This challenges the view, held by 55% of those polled, that married couples are typically the best savers due to shared goals and collective action. Tim Mack, NS&I savings spokesman, said: "It's great to see that single people are saving a larger percentage of their income by setting themselves specific savings goals. Our research shows that nearly a third of single people use targets to help them manage their money, compared to less than a quarter of married or cohabiting individuals".