A new Westpac survey has revealed that women are working longer hours in the downturn and are significantly cutting back on their spending.
Larke Riemer, head of Women’s Markets, Westpac Banking Corporation, said Australian women are feeling the pinch of the economic downturn, having to juggle increased workloads with the every day pressure of maintaining family life.
Reimer said there are a number of things both women and men can do to ensure their finances are kept under control in the downturn:
1. Take control – getting a firm grip on your finances could be the equivalent of giving yourself a pay rise.
2. Look for loyalty – Check if service providers will give you a loyalty discount for multiple services purchased on items.
3. Financial face lift – make sure your money is working as hard as it can. You could be missing out simply by not structuring your accounts correctly.
4. Ask for help – managing your finances can be complicated so talk to the experts.
5. Reward yourself – by now the money should be adding-up so make sure you treat yourself. It will ensure you keep-up the good work.