Who's Holding The Purse Strings?

Women in their forties and fifties are more likely to be the main earners in their household, with the power to spend and invest, says Andra Childs

- Andrea Childs

On a recent catch-up with friends, we covered the following topics: the yoga range at Aldi (the £5.99 racerback bra is a thing of beauty); scoring a discounted Dualit toaster online (classic luxe for less), and whether the savings on said toaster justified buying a pair of Ejing Zhang earrings from Net-a-Porter (answer: it would be rude not to). While my friends and I all earn different amounts, it would be wrong to define us as “the spender”, “the saver” and “the smart shopper”. Depending on our mood and our bank balances, we could be all of the above. “Midlife women today are asset-rich. They’re often the first generation to go to university and hold executive jobs, and they’re inheriting from the baby boomers before them,” claims Rebecca Rhodes, founder of marketing agency SuperHuman. “We’re running countries, media companies and banks. It’s no surprise this up-for-it attitude filters back to our home life.”

Claire Francis, director of savings and investments at Barclays Smart Investor, says women tend to be the CEO of the household. “Women are managing the day-to-day finances – everything from paying the monthly bills to booking family holidays,” she explains. “We’re experts at both shopping and making savings. But we also feel there are things worth treating ourselves to, particularly if we’ve cut back in other areas. We work hard and spend our money wisely, so a facial or new handbag feels like a reward.”

HOW WE SPEND OUR MONEY