Women fearful about finances while men remain unconcerned

Women are significantly more worried than men about their finances, according to a recession survey by consumer finance website moneywise.co.uk.

When asked about their attitude to the current economic climate, 43% of women said they are concerned and uncertain about their financial security - but only 25% of men share their concerns. And only 26% of women are confident about their finances in retirement compared to 58% of men.

Moneywise.co.uk's Rachel Lacey said: "As figures on economic growth and unemployment show that we are now heading into a recession it seems that women are taking this more seriously than men. Research has shown that women are increasingly more likely to have the final say on financial decisions within the household and are perhaps therefore more aware of the current rising cost of living.

"There is a significant contrast between the sexes in the levels of concern felt about finances. Women remain less confident than men about having enough money in retirement. We know people are often unrealistic when it comes to pensions and retirement planning. The question is whether men are over confident about the future or are in a better position for their old age."

Other key findings include:

49% are concerned about the safety of their savings

Greed and bonus culture is ranked as the biggest single factor to blame for the credit crunch - followed by failure on behalf of regulators and politicians

65% are feeling the effect of rising costs, with over 65% curbing their spending as a result. More women are tightening their belts than men, with one in three spending a lot less, compared to only 16% of men

Over half (53%) believe that things will get worse - but are confident they can handle the situation

Only 9 % are optimistic that things will get better soon

Rachel Lacey added: "Moneywise.co.uk provides plenty of advice on how to manage finances during this period of belt-tightening, from reports on the best savings rates to tips on cutting your winter fuel bills. Our top tips for those concerned about their finances are:

Make sure you get the best deal on your savings

Prepare a household budget and look for areas where you can make savings - you can read our guide to writing a budget or watch the Moneywise TV step-by-step guide

In the current climate make sure you spread your investments and don't hold all your savings with one bank or building society

Face up to any debt problems and seek advice if necessary - advice groups include the Consumer Credit Counselling Service or the National Debtline.

Consider insurance such as Income Protection

If you are struggling with mortgage repayments, then contact your lender immediately and explain your problem"