women more likely to cut back in crisis

Women are more likely than men to cut their spending if their financial situation hits a crisis, a survey suggests.

Asked how they would cope with a hole in their money situation, 60% of women would tighten the purse strings, while 55% of men would cut back on their spending.

Overall, 39% of Britons admit they often or sometimes struggle to make it to payday.

The research for insolvency trade body R3 also suggests that women would be more inclined than men to ask friends or family for help if their finances hit a rough patch.

Some 31% of women would ask friends or family for a loan or a cash gift, compared with 26% of men.

Men were more likely than women to apply to their bank for a loan.