Britain's breadwinners braced for economic slowdown
Fri 25 Apr 2008
25/04/2008
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Britons believe they need an increasing amount of money in order to be financially secure amid a backdrop of rising costs and economic uncertainty.
That is the message emerging from new research from Kaupthing by Opinium Research earlier this month, which showed that men felt they needed an average of more than £100,000 and women £82,000 in order to be secure – and something that experts believe is set to continue.
With one in 50 people saying they would even leave their partner if they were financially independent, savings expert and author Emma Byrne, and Corinne Sweet, a finance and relationships author, said that income was a key factor.
Ms Sweet explained: "I think men are coming at it from a breadwinner perspective. Although there’s a lot of women out there earning their living and there’s a lot of lone parents, I think men still shoulder a psychological self as the provider.
"Whether or not in reality it’s true I think a lot of men think in terms of cars, gadgets and what they need overall, whereas women tend to fit themselves much more around family life and tend to ask for less."
It was a sentiment echoed by Ms Byrne who said a sizeable deposit was something which could directly affect the job market – with about one-third of people saying they would leave their job with if they had such a lump sum.
Earlier this week it was reported by the Industrial Relations Services that median pay settlements were stagnating, as British workers saw the rate of pay plateau at around 3.5 per cent.
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