News And Finally

Wednesday 17 September 2014

Men 'more likely to set DIY budget'

Published 18/04/2014 | 00:07

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Men are more likely than women to set budgets for tackling DIY projects around the home, new research suggests.

Men are more likely than women to set budgets for tackling DIY projects around the home - but they also have a greater tendency to let their sums spiral out of control, research suggests.

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More than a third (34%) of men admit to blowing the funds they had set aside for sprucing up their property, compared with three in 10 (30%) women, a survey for Nationwide Building Society found.

As households roll up their sleeves to get to grips with jobs around the home and in the garden over the Easter weekend, the building society found that men are more likely to have come up with a plan for how much they intend to spend on particular work from the outset.

Only one in 11 (9%) men said they will set out on a project without a fixed budget in mind, compared with one in seven (13%) women.

Nationwide also found that m en are also more likely to undertake the job that needs doing themselves than women, at 45% versus 21%.

Nearly one third (30%) of women said they would leave DIY work for someone else in the house to do - which is three times more than men, with only 9% of them saying they left the work to another family member or housemate.

Of those people surveyed who have undertaken DIY projects in the last 12 months, painting, wallpapering and plastering were found to be the most popular activities.

Meanwhile, around one quarter (22%) of people had invested in self-assembly furniture, one in five (20%) had improved the garden, by laying a new lawn, putting up fencing or constructing decking for example, one in seven (14%) had fitted or replaced items in the bathroom and one in six (15%) had had some plumbing fixed.

Graham Pilkington, Nationwide's director for banking, general insurance and protection and investments, said: "Spending some extra time planning ahead can make a real difference to your finances, leaving you better able to get on with the task in hand.

"Many DIY chains also offer online calculators, which help you purchase the right amount of paint or wallpaper for the job you are doing, helping you budget more accurately.

"If you don't have the money upfront to pay for your DIY project, plan how you will pay for it before you start."

Older people are also more likely to overspend on fixing up the house than the younger generation, the research indicates.

More than one third (35%) of people aged over 55 said they have run over their DIY budget, compared with less than one in five (19%) 18 to 24-year-olds.

Over 2,000 people were surveyed for the research, of which almost 1,400 had undertaken home improvements in the last 12 months.

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