Women need to become more financially savvy about saving for their future, according to research by Friends Provident. Apparently 30% of British females aged between 25 and 45 do not have a financial plan in place for their future.
This could mean that many experience financial problems later on in life, such as bankruptcy, high levels or debt or even repossession of their home. Almost 70% do not have a personal pension plan in place and more than half admit to saving less than £500 per year.
Spokesperson for Provident’s Christine O’Grady said: “As people live for longer, it is critical they prioritise retirement planning to ensure they have a stable financial future”.