The Bank of Scotland recently announced its commission of a research study that has discovered that Scottish males have a higher propensity for opening savings accounts in comparison with their female counterparts.
The study commissioned by the personal and business bank account provider found that while 33 per cent of female respondents had some sort of savings product, the incidence rate of savings product for Scottish males was a full 3 percentage points higher.
The study additionally found that while at 20 per cent, one out of five men had no savings products at all, the rate for women was 4 per cent higher, at nearly one out of every four.
Other findings included that 85 per cent of women declined to open any kind of savings product due to a feeling that they simply did not have the money to do so; the figure for males, in comparison was only 73 per cent..
Out of those without savings accounts, both men and women, both claimed that they did not have any type of savings, even an internet savings account, due to the fact that they either lacked the time resources to open one or lacked the information in regards to how to do so.
However in comparison the popularity of current accounts was quite high, with 89 per cent of women and 92 per cent of men possessing them.
Additionally the survey found that ISAs were had an equal rate of popularity between the sexes, with 42 per cent of both women and men using the tax-free savings instrument in order to grow their money.
Both women and men stated that their highest priority was to reduce their cash expenditures, at 21 per cent of respondents; saving was rated as secondary at 19 per cent.
The results of the research reinforce the Scottish Widows research conducted earlier in 2010, which found that a majority of men have the opinion that they are in possession of more financial intelligence than women.