Girl Power - But Men Still Hold The Purse Strings!

The millennium woman may be as comfortable in the board room as she is in the kitchen, but new MORI Financial Services research commissioned by Direct Line Financial Services shows that men still rule the roost on what is bought and how it's paid for.

The research, commissioned to mark the launch of Direct Line's new internet loans service, was based on interviews with around 2,000 adults and focused on spending on major purchases (over 1631,000) in the last six months. The survey also provided predictions of spending over the next six months.

Who decides what to buy?

Interestingly in this day and age of social equality, decisions on what should be bought were only made jointly between men and women¹ just over half of the time (53%). A quarter of all the final decisions about what should be bought were made by men, while only one in ten of the decisions were made by women.

Who decides how to pay?

While one in three men claim to have made the final decision about how to pay for a large purchase, less than one in ten women claim to have made the same decision alone. Again, decisions on how to pay for a purchase were made jointly just over half of the time (53%).

Commenting on the findings, Andy Marchant, Managing Director of Direct Line Financial Services, said:

"Most people think that we're now living in an equal society with men and women making decisions that affect the whole family together. But this research shows that that's not the case and in many families the man still tends to decide what's bought, and how it's paid for."

The survey also found that in instances where men and women make the decision alone, men consistently make more 1631,000 plus purchases than women do.

One area of equality in the battle of the sexes however, is that both men and women tend to pay for things in a similar way. Both are likely to use cash to pay for purchases in the next six months, and both are equally likely to use hire purchase or a credit card. In addition, overdrafts are the least popular way to pay for a major purchase amongst both men and women.

While men and women are also equally likely to take out a loan, men appear more comfortable with technology, being more likely than women to take out a loan over the Internet, with one in ten men prepared to do this, compared to around one in 20 women.

The survey found that both men and women like using the net because it is convenient and has 24 hour availability, but dislike the fact that it can be slow, and are worried about security. Those most likely to arrange a loan on the Internet are younger people (under 44) with high incomes (over 16330,000) educated to at least 'A' Level, and from the South East or the Midlands. They are also most likely to live in rented accommodation as opposed to having a mortgage.

¹ All references to 'men' and 'women' relate to male or female heads of the household where married or living as a couple.

Technical details

1. Survey conducted by MORI financial services on behalf of Direct Line Financial Services. A total of 1884 interviews were conducted across Great Britain among adults aged 16 and over. Interviews were conducted between 1st and 6th June 2000.
2. Unlike many other lenders, Direct Line offers unsecured loans up to 16325,000. These are available either over the phone or Internet.
3. The web site address is directline.com
4. The telephone number for Direct Line loans is 0845-246 61000
5. Case studies of customers who have taken out a Direct Line loan are available on request. Please call Alison Arnot on 0141-308 4328 for details.