Men or women: Who's better at saving money?

Men or women: Who's better at saving money?

In the battle of the sexes, when it comes to saving, who do you think is better at saving their pennies for a rainy day?

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Listen as Damon chats about why he think's men are better at saving money than women in the podcast then read more below:

Who do you think is better at saving money? Men or women?  

I mean, let's be honest, in this day and age if you can save money it's a miracle, especially with the state of the economy. I personally think that it's men who are better and I think research seems to back my statement. 

According to research conducted by Old Mutual and published on CNBC Africa, it shows that 76% of South African women do feel insecure when it comes to saving and budgeting.

Read: Five ways to save money on date night

Saving for retirement is something that is vital at any age. It is imperative that we look to the future and take account of what funds we have to help us get through our ‘golden years’. Research conducted shows that 39% of women have savings banked as opposed to 45% of their male counterparts.

I'm fanatical when it comes to my finances and I'm the guy who typically saves for a 'rainy day'.

I save all my receipts, I do a spreadsheet every month and even if I put away a really small amount every month, I do everything in my power to make it happen so that I can retire comfortably not having to worry about funds.

A female friend said to me the other day: "Why save, we should live for the moment." She also added: "If I've got a few extra Rands, I'm definitely going to blow it on clothing or make-up."

When I asked my male friends what they spent their extra cash on, they all said that they'd rather save it.

Although there are a ton of ladies who are the bread winners in families, it seems that guys tend to try and save as opposed to just living for the moment.

Read: Is leaving your husband because he lost the family money a bad thing?

What do you think? In your opinion, which gender is better at saving?

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