Hi Simon

News research released today has found men save almost a third more each month than women.

The confidence gap may explain why. The research found almost three quarters of men feel confident understanding financial products, compared with just half of women. Women were also less likely to trust information provided by banks and financial institutions, more likely to find financial terminology confusing and less likely to feel comfortable making financial decisions without certainty.

Please see below for the full research. If you are interested in hearing more from either Rhiannon Byers, director of adult financial wellbeing programmes at The Money Charity, or Robyn Demming, UK B2C lead and country head at Raisin UK, both quoted in the release, let me know.

Thanks,

Elizabeth

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Men save 31% more each month than women – confidence gap may help explain why

New Raisin UK research finds women save £65 less each month on average, as experts warn unclear financial language may be adding to wider savings barriers.

Men save almost a third (31%) more each month than women, according to new research from savings marketplace Raisin UK, with experts suggesting differences in financial confidence may be influencing saving habits as much as income.

Raisin UK's Confidence Savings Gap research, which surveyed over 2,000 UK adults, found men save an average of £275 each month compared with £210 for women*. While income plays an important role, the findings suggest confidence, trust and understanding of financial products could also be contributing to the gap.

The research found almost three quarters (72%) of men say they feel confident understanding financial products, compared with just half (54%) of women. Women were also less likely to trust information provided by banks and financial institutions, more likely to find financial terminology confusing and less likely to feel comfortable making financial decisions without certainty, for example that an investment would result in returns.

Nearly two in five women (38%) said financial language makes products harder to understand, while one in four (25%) said simpler, clearer information would help them feel more confident making savings decisions.

Rather than pointing to capability, the findings add to wider evidence that financial confidence is shaped by context, including income, time pressures, caring responsibilities and whether financial information feels clear, accessible and relevant.

Rhiannon Byers, director of adult financial wellbeing programmes at The Money Charity, said: “Building the understanding needed to make confident money decisions happens over time, but people need the right information, language and support to do this. If someone feels shut out by jargon, they are less likely to engage, which is why making financial information clearer and more accessible is an important part of improving financial wellbeing.”

Robyn Demming, UK B2C lead and country head at Raisin UK, said: "The amount someone saves each month is influenced by lots of factors, from income to the information and tools available to them. If people find it difficult to compare products or understand financial language, they may be less likely to take action that could help their money work harder.

"This is not about pushing people towards decisions they are not comfortable with. It is about making savings feel clearer, simpler and easier to navigate, so more people can make informed decisions about their money."

The findings form part of Raisin UK's new Confidence Savings Gap campaign, which explores how financial confidence differs across gender, age and income, and highlights practical ways the financial industry can make savings more accessible.

To support the campaign, Raisin UK is hosting a free webinar bringing together experts from The Money Charity and the financial services sector to discuss the barriers affecting financial confidence and the practical steps people can take to feel more confident managing their savings.