independent

Thursday 17 April 2014

Household spending to take hit as women look for savings

More women are taking control of household budgets

WOMEN are set to take control of household budgets in a move to save money for families in the new year.

Almost two-thirds of households plan to review their family's expenses to make savings.

In half of those homes, women will take full control of the household expenses in a bid to cut down on outgoings.

And even where men get involved, they are likely to share the task of trying to trim back family spending with their wife or partner, new research commissioned by Aviva Health Insurance has found.

Women not only do most of the household chores such as cooking and washing, they are also increasingly the ones deciding on which telephone and TV package to sign up for and which energy supplier to use, the research carried out by Empathy found.

The study captured the views of almost 300 families in Ireland, and more than half of the families surveyed said that mothers made the decisions on their household expenses.

DISCOUNTS

And the "mammies" are going to try even harder this year to get the cost of running a family home down, with two-thirds of households planning to review their expenses.

Things up for review include direct debits, energy suppliers and health insurance.

Around half-a-million people are due to renew their health insurance by the end of the month.

Renewal premiums are to be much higher than last year due to changes in the Budget to the tax relief that health cover gets and multiple price rises from insurers.

The research found that families had targeted their TV and telephone services for savings. One-third plan to get a bundle offer for TV, internet and telephone.

The vast majority of households said they planned to shop around for the best prices and keep an eye on promotions and discounts this year.

And savings will be found from spending on groceries. Some seven out of 10 of those surveyed said that they planned to cut back on the cost of filling a shopping trolley.

Families spend around €6,000 a year on groceries, but keen competition among retailers has meant that savings can be made.

And a third of those surveyed said they planned to stop buying take-away tea or coffee.

Others plan to get their spending back by selling unwanted items on eBay and not using the car as much.

Irish Independent

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