Men 'make the best savers' (From The Bolton News)

Men 'make the best savers'

Men are better savers than women, stashing away around 50 per cent more cash, according to a report out on Wednesday.

The National Savings and Investments Winter Savings Survey revealed the best savers are male, single, full-time workers and 16 to 24-year-olds, who save the most as a percentage of income.

Dax Harkins, senior savings strategist at NS&I, said: "Women's salaries are, on average, lower than men's, so you would expect a lower amount of savings. But they also save a lower percentage of income. The net result is that their total savings are falling further behind men's."

Regular monthly savings have remained stable, only changing from £163.09 in December to £162.70 in February.

Savings as a percentage of income peaked in January at 7.27 per cent but fell again in February to 6.58 per cent.

Men hold an average total of £21,026 compared with women's average total of £13,989.