Low income based British women are 50% as likely in saving money as women in Ghana as per the survey figures.
Barclays has done a research on this and according to it, Care International UK and Plan UK released prior to International Women’s Day that 94% of Ghana women, the place where number of people living under poverty line is double that of Britain, are good money savers compared to 55% of women in Britain.
“I understand that I am not that sensible with savings, but I simply have no clue as to where to start the process. And I must say, often I end up struggling at the end of a month.” A 42 year old Yvonne, mother-of-two, said she was vicious with money until she lost her work hours, driving her to get hold on her expenses.
The study even revealed a one-third of British women feel committed, whereas in Ghana, about 79% think they are ambitious, and over 50% of women in two countries saying they are not capable of saving like others do.
For Zoe from Cardiff, a 20 year old single mother studying psychology, a lack of sense and value for money prevented her from saving. Not just she, there are many who do not even have a clue on how to save money particularly when on low incomes. For example, let us take my life style. Why to comment about others when I have not mastered this art of saving. I rarely see any money by the end of every month although I am earning a decent amount of salary every month.
Barclays Retail and Business Banking Director, Catharine French, said “the numbers proved women’s capability to save money even when they get low income.”
“Indeed British women have already been sensing the pinch but the survey demonstrated that with the proper knowledge, people can save money even if they are on low earnings.”
“All that we need to make sure is that women in Britain are conscious of just how essential saving money is. Saving small can give increased confidence, security and choice to women’s lives regardless of whether they live in UK or Ghana.”
“The survey demonstrates that we have so much to learn from these women about inclination to saving although the situations of British women are different”, she added.
The numbers are from another survey that demonstrated families lending a typical £12,846 to their children or grandchildren which has increased by 31% in the past five years. Also a few surveys show that people learning to save money often switch to cheaper services, buy groceries in discounted store and use high yield savings accounts. So if you are quite confused as to where to start your savings, why not start it from choosing a fixed rate savings account for your deposits securing the future.
Mil, 40, is a professional writer for finance websites. Saving has turned into an essential element in everyone’s life with the present economic conditions. This has motivated Mil to write on how important saving is and how people in other parts of the planet are saving even when they live in tough and challenging conditions than others.
