- Monday, 20 July 2009Women in the UK are taking more steps to curb their expenditure then men, new research has revealed.
A study carried out by Legal & General found that 56 per cent of women are spending less on their weekly food shopping compared to 41 per cent of men.
The company's Changing Face of British Homes research also revealed that 60 per cent of women have reduced the amount of money they spend on the high street, something which just 47 per cent of men have done.
An indication that male consumers are perhaps more in need of debt advice than their female counterparts, the research also showed that more women than men are curbing nights out and taking a packed lunch to work.
Commenting on the findings, Garry Skelton, marketing director at Legal & General's general insurance business, said that the ongoing recession appears to be causing the change in spending habits.
However, he warned that Britons should not cut back on things that are important, such as insurance.
Mr Skelton explained: "The current economic climate is having an effect on most of us. While Brits are shopping around and cutting back, it's important to ensure that any compromise does not mean losing something that is valuable: for example, cutting back on household insurance could be a real false economy."
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