Men judge themselves 'financially brighter than women'

Friday, March 19th 2010

Men claim that their financial IQ is higher than women, according to research from Scottish Widows.

The studies found that 49 per cent of all men view their financial IQ as being "good" or "excellent", compared with 34 per cent of women.

But two thirds of all Britons worry about the state of their finances, with 572 hours every year spent fretting by the average citizen.

Almost half of all those quizzed said their financial IQ was OK, but could be better and two per cent said it was non-existent.

Personal finance journalist Rosanna Spero said: "Men appear to be much more confident when it comes to their money know-how, rating themselves as being financially 'fitter' than women."

And savings expert for Scottish Widows Iain McGowan said that everybody has questions about certain aspects of their finances.

While men may be more confident about their savings, this does not mean they are in a better state.

Recent research from Consumer Credit Counselling Service found that men are more likely to get into debt than women.