Some more info on this.  Apart from the BBC, Google News doesn't have
anything else onit.

Press release:

Annual savings report reveals growing reality gap, with women least
willing to face financial facts



IFA Promotion's annual study*, published today, highlights the
growing reality gap between UK saving and spending habits, particularly
among women.



The perception

Seven out of ten (71%) UK adults claim they cannot save a penny more
than they do now, and 12 million (26%) adults are saving nothing at
all.  Just 23% of women believe they could save more, a sharp drop on
last year (28%), compared to 37% of men.



The reality

Two thirds (63%) of those who "can't save more" admit spending
their spare cash on expensive and unnecessary luxuries, while
alarmingly three out of ten women (28%) get into debt to fund costly
purchases.

54% of adults say they would not "reduce unnecessary spending in
order to save more."  Even if their income rose by a quarter, they
would rather spend this extra cash on extra holidays (60%) or home
improvement (58%) than divert any of it to their pension pots or
long-term savings (36%) or paying off debts (41%).

Two thirds of adults view themselves as savers, yet recent figures show
that we borrow 83 pence for every pound saved**, revealing a lack of
joined-up thinking.



David Elms, Chief Executive of IFA Promotion, says, "Long-term saving
just doesn't seem to be registering as a priority in the British
psyche, but it's never been more critical.  The only way the UK's
vast long-term savings gap can be addressed is by first closing the
reality gap between what we need to save and what we think we can get
away with."

Four out of ten people who concede they could save more (6% more than
last year) are not doing so because they believe they are saving
enough, despite high-profile reports to the contrary.  Other reasons
given by this group for not saving more are:

17% say spending it is more fun; particularly among women, where the
number of self-confessed spendthrifts has risen from 11% to 19% since
last year.

15% plan to start saving in the next 12 months, while just 13% say they
are paying off debts first, and only one in ten are put off by "low
returns."



Who will save us?

If faced with a financial crisis, most people would turn to a 'white
knight' to help them, rather than take responsibility themselves.
More than a fifth (22%) would turn to their family for help, 21% would
go cap in hand to the bank.  Only 19% think they would have adequate
personal savings to cope.



Spend, spend, spend...

IFA Promotion also investigated how people are funding their luxury
lifestyles:

Women flash their plastic for big ticket purchases 50% more than last
year; 28% now take on debt to fund their spending sprees, compared to
22% of men.

The number of people who use regular income or save specifically for
luxury purchases has declined since last year; amongst women from 36%
to just 22%.



IFA Promotion today launches its Get Saving! awareness campaign to
encourage people to start budgeting better, and be more realistic about
their financial future.  People can find guidance, budgeting tools and
information at www.unbiased.co.uk/getsaving or by calling 0800 085 3250
for a copy of IFA Promotion's 'Join the Saving Revolution' guide.




Some rays of hope for saving

There are some positive signs that the tide could start to turn among
younger people. A third (34%) of under-35s feel they are able to
increase their savings compared with just a quarter of 55-64 year olds.
The amount of under-25s planning to start saving this year has also
shot up by well over a third to 27%, and two thirds of this age group
say they would be willing to reduce unnecessary spending in order to
save more for their retirement.




Elms concludes, "Perhaps the good intentions of the younger
generation will result in rosier looking retirements in years to come,
but no-one can afford to be complacent.  There will soon be too many
pensioners for the state to support in any meaningful sense, so people
need to take control of their financial future as soon as they can."




Call 0800 085 3250 or visit www.unbiased.co.uk/getsaving for IFA
Promotion's Join the Saving Revolution guide, looking at why we need
to save, and how you can budget to save more, and options for where to
put any extra money.  You can also obtain details of local independent
financial advisers to talk through the most suitable savings options
for you.

-ends-



* The Get Saving! 2005 report was produced for IFA Promotion by RAKM,
and is partly based on an analysis of Inland Revenue, ONS, DWP Family
Resource survey, Bank of England and ABI along with a
specially-commissioned face-to-face consumer survey of 2,000 UK adults
(16+), conducted by BMRB during October 2004.  With detailed queries on
the report, call Paul Hersey at RAKM on 01737 216 940.  For a full copy
call IFA Promotion's Media Services hotline on 020 7294 3682, or
download a pdf version from www.unbiased.co.uk/getsaving



** Savings Brake research conducted October 2004 by RAKM for IFA
Promotion.



SOME SIMPLE THRIFT TIPS TO BOOST YOUR SAVING POTENTIAL



1) Buying a coffee on the way to work each morning can cost you over
=A3360 a year - a wake up call for anyone.



2) A second or third family holiday each year can really rack up.  And
a retirement without any money for holidays would be more of a
wash-out.



3) Trying to hit the lottery jackpots every week can cost you over
=A3100 a year.  And how many friends can you name who have won more than
that?



4) Gym membership can cost =A3400-=A31000 per year.  Do you really use
it?  A run in the park is free.



5) Buying a sandwich from your local shop is more than double the cost
of making your own - and you can use more filling!



6) A satellite TV subscription can cost =A3500 a year.  What did you do
before you had it?



7) We all like building up our music collections, but at do you really
need to spend more money on downloads or CDs? Do you listen to half the
music you've already got?



9) Going for a post-work glass of wine or beer just two nights a week
can cost you over =A3260 a year.



10) With plastic in your pocket it's hard to resist those impulse
buys.  But do you really need another designer top or new mobile phone?



11) Most of us either give or throw items away that we have replaced.
Why not sell them on Ebay?



For expert comment or case studies from over 200 media-friendly IFAs,
journalists should call IFA Promotion's Media Services hotline on 020
7294 3682 or search online in 'Media Services' at
www.unbiased.co.uk



1=2E  Independent Financial Adviser Promotion



IFA Promotion was established in 1989 to promote the value and
accessibility of independent financial advice to the public.  It
represents over 10,000 firms of independent financial advisers across
the UK and is sponsored by 31 leading financial institutions. In 2004,
over 440,000 consumers and businesses used IFA Promotion to find local
independent financial advice.



IFA Promotion believes Independent financial advice should be:



=B7        Affordable.  The option to take independent financial advice
should be available, by right, to all - not just the wealthiest in
society.



=B7        Convenient.  IFAs should be available in the location of the
consumer's choice, wherever they live in the UK.



=B7        Transparent.  It must be clearly transparent to consumers who
is able to offer independent financial advice and who is not.



2=2E        Independent Financial Adviser Promotion's sponsors

Abbey
National Savings & Investments

AXA Life
New Star Investment Funds

Bright Grey
Norwich Union Life

BUPA Health Services
Old Mutual Asset Managers (UK)

Canada Life Ltd
Prudential

The Children's Mutual
Scottish Equitable Plc

Clerical Medical Investment
Scottish Life

DWS Investments Ltd
Scottish Life International

Friends Provident
Scottish Widows Plc

GE Life
Selestia Investments Ltd

GMAC Residential Funding
Skandia UK Group

INVESCO Fund Managers Ltd
Southern Pacific Mortgage Limited

Legal & General
Standard Life Assurance Company

London Mortgage Company
Webline Limited

Lincoln Financial Group
Zurich IFA Group

Mortgage Express




-----------------------
http://www.motheratwork.co.uk/Finance/0402cash.asp
(no reference to gender difference, it seems)


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