Sisters are doing it for themselves financially
Tuesday September 16 2008
IT seems that the days of women depending on men for their financial future are gone -- and not before time.
A number of recent indicators show that women are gaining in financial confidence and independence.
Recent figures from the Central Statistics Office showed that women were finally taking out pensions in larger numbers. After years of lagging behind men when it comes to providing for their retirement income, the figures showed that one-in-two female workers had a pension.
That is up from 45pc of women with a pension just five years ago.
And when it comes to property, the sisters are also doing it for themselves.
For the first time, single women are buying more houses than single men.
In the first half of this year, 51pc of single people buying houses were women, compared with 43pc last year, according to figures put together by the IFG Mortgages broker network.
The rise in female home buyers has been one of the most significant shifts in the market in the past few years.
And this has come despite tightening in the mortgage market and an economic downturn.
The research also indicates those who are buying at the moment are more likely to buy larger homes than previously. These indicators tally with a survey undertaken by Behaviour & Attitudes last year which showed that financial independence was the single most important issue in the lives of women in Ireland today.
A total 65pc of women rank financial independence as a very important item in their lives. All this means that women are throwing off any incorrect stereotype they may have had of being dippy 'Bridget Jones' types who couldn't get their finances in order.
Unfairly
In the past, young women have been unfairly compared with the fictional character because they appeared ditzy and disorganised in this regard. Personal finance was an issue for the man in the life of most women.
But no more. These different research findings indicate that that the aforementioned stereotype belongs to the pages of fiction.
Instead, many single women see the fall in house prices over the past 18 months as an opportunity to snap up a bargain.
They realise they need a pension as it is not wise to always depend on a man.
Women are acutely aware that even if they do marry, the union might not last.
