Working women save more than male counterparts despite lesser earnings

Last Updated: Thu, Feb 21, 2013 09:30 hrs

Women save about 500 pounds more in banks than their male counterparts, despite being paid less than them.

According to the Halifax, In terms of share of wages, the gap is still more striking: women have 41 per cent of their annual salary in savings, while men have just 23 per cent.

The bank said that the average man among its account holders has saved up to 7,699 pounds, against 8,211 pounds, or 512 pounds more, for women, the Daily Mail reports.

The South West was named as the area where both men and women are likely to have high amounts put away as a proportion of their salaries.

Women in the region keep 49 percent of annual earnings in savings, at 8,700 pounds on average. Men typically have 28 percent of their yearly wage, or 8,344 pounds stashed away, the report said.

At the other end of the scale, male and female savers in London have the lowest savings as a share of annual salary, at 18 percent and 30 percent respectively.

Men in London have a typical balance of 8,032 pounds, while women have 8,600 pounds, the report added. (ANI)

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