New research by ING Direct reveals that millions of men and women are now putting money aside – secretly.
These secret savings are being made without a partner’s knowledge and the study has revealed that there’s a vast difference in the motives for saving between men and women. While romantic males save secretly for engagement rings or lovers’ treats, cautious females are more likely to be secreting money away in case a relationship fails.
According to the ING Direct Consumer Savings Monitor women are twice as likely as men to have secret savings. And although 37% admit to having a break-up fund, 21% indicate they have a secret shopping fund. On the other hand, 30% of men indicate that their secret savings are for a surprise for their partner – like jewellery or a surprise holiday.
The research also indicates that male secret savings are down by 14% in the last 18 months while female secret savings have remained constant. Greater levels of male unemployment may explain this change.
Summing up the findings, ING Direct CEO, Richard Doe said:
“The ING Direct Consumer Savings Monitor tells us a great deal about the savings behaviour of ordinary Britons. In this case, we have discovered that many of us keep our savings secret”.
Source: ING Direct Consumer Savings Monitor Report August 2010
www.consumersavingsmonitor.co.uk
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