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Men save a £1,000 a year by browsing the web for the best deals

4th April 2012 Print

Research carried out online by Standard Life suggests that men are set to outshine women when it comes to surfing for online savings this Easter bank holiday weekend. On average, men estimate they are likely to be saving almost £1,000 a year by trawling price comparison sites, looking for online voucher codes and using discounts sites like Groupon. This is £287 more than women, who estimate they are likely to be saving a little over £700 each year on average.

Standard Life's ‘Financial Efficiency' online research reveals that nearly half of UK adults online (49%) now regularly search for online deals to ensure their money goes further. This is an increase of 12% from those who recall doing it in 2009, meaning 5.88 million more people are now using the net to find top offers. In 2009, marginally more men (38%) than women (37%) were surfing for money saving deals. But the tables have now turned and more women (51%) than men (47%) are now regularly going online to save money.

Commenting on the research findings, Standard Life's Julie Russell, said: "In general, I think we've all got much better at being money saving experts and are well placed to make the most of the special online deals this Easter bank holiday. But that is just one aspect of financial efficiency. The flip side of the coin is also being efficient with the money that we actually save, by budgeting, planning our finances and making the most of tax efficient products like ISAs and pensions. With the start of a new tax year looming, now is a great time to start planning ahead, so you're not just finding great deals when you spend, but when you save or invest too."

The research also shows that nearly a third of people in the UK (30%) set a weekly or monthly budget, up from only one in five (22%) saying they did so in 2009. Yet the findings also suggest that in the last three years, there has been no change in the number of people seeking financial advice (8%) and only one in six (17%) is currently planning their finances to make the most of tax breaks from products such as ISAs and pensions.