Household finance confusion could lead to debt woe

Mon, 10 Oct 2011

Confusion over who controls the household finances could be one way in which couples see their debt troubles steadily increase.

Indeed, new research from Clydesdale and Yorkshire Banks has revealed many homes are divided over who takes responsibility for such monetary matters.

The study showed 53 per cent of men believe they are in charge of their family's cashflow, but only 25 per cent of women agree with their male counterparts in this regard.

Meanwhile, 43 per cent of females think they are the ones who hold sway over the purse strings - however just 13 per cent of men said this is the case.

Steve Reid, retail director for Clydesdale Bank - which has a history stretching back to 1838 and now boasts more than 7.7 million customers internationally - said: "It is understandable that household finances are a hot topic for many couples as it is such a big part of cohabiting."
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