Home
>
Personal Finance
>
The Changing Shape of Family Finances

The Changing Shape of Family Finances

Super-mums

It seems that the proof of maternal efforts is no longer found in the pudding ? it's in the spending. Women are increasingly outsourcing personal grooming tasks and the pressure of looking good, feeling healthy, maintaining a tight ship and IQ level has meant that housecleaning and gardening are again fashionable methods to promote the family brand; housewifery is now a career, with all the attitude of 21st century post-feminism. It emerged in a recent BBC report, that a new type of parent was surfacing?.the "manager mum". Manager mums tend to use the internet to save time on tasks and streamline activity, using the Web to undertake jobs such as grocery shopping or banking.

Once they've got their partner, it doesn't seem women can relax about their appearances, with women in relationships spending more on their appearance than their single counterparts. UK housewives spend a massive ?5 billion on 'keeping up appearances', in terms of gardening, home furnishings and personal grooming, according to a study by Virgin Money Credit Cards. UK women are splurging out an average of ?3,488 each on personal appearance and their home and garden. Of the ?3,488, 47% is spent on the home and garden, whilst the remainder goes on clothes, haircuts, beauty products and treatments.

The pressure to look good may be a factor in women being labelled as the worst savers, as reported by Guardian Unlimited. In an annual study by IFA Promotion, 63% of the women who stated that they were unable to put aside further savings, admitted to spending their spare cash on costly and unnecessary luxuries, whilst 28% of women get themselves into debt with expensive purchases. Women apparently seem to be content with spending up to 75% of disposable income and saving less than 20%, in contrast to men who save over 25% of their income and invest 8%.

Peter Pan fathers

Whilst fathers are not physically getting any younger, there is evidence that their mental age may be falling. The BBC recently reported that a new type of dad had emerged ? the "gadget dad", whilst in November last year, the Guardian reported that men were significantly delaying fatherhood. In a study by Panlogic, "gadget dads" love technology and have all the latest tech toys, from Sky TV to a car navigation system. Perhaps this love of tech toys is also the reason inhibiting men from diverting funds to babies. According to the Guardian, 81% of men admitted that financial fears would make them postpone having children and if current trends continue, the average age of men becoming fathers will rise to 40 by 2065. Virgin Money Life Insurance also reported in their studies that new fathers were waiting longer to start families and that UK fathers are working the longest hours in Europe.

Savvy kids

A recent investigation by Halifax found a positive attitude towards saving is increasing amongst children. Whilst in 1998, a third of children saved more than they spent; now that figure is over fifty percent. The bank discovered that most children are prepared to save for an expensive item, though parents of younger children faced more of a struggle, as 22% of seven to eleven year olds pestered their way towards getting what they wanted. Piggy banks, it would seem, may become sentimental souvenirs, as more children save their money in a bank or building society.

This trend of 'keeping up appearances' seems to induce individualistic behaviour in families, reducing co-operation on financial issues. This erodes family values in society and discourages future generations from investing in children. Without the motivation to invest in sustainable communities or even a sustainable standard of living, (currently supported by ?1.1 trillion of debt), the issue of successful management of family finance remains trivial.

Additional information:

Useful brochures & fact sheets from http://www.unbiased.co.uk/website/brochures/

Family finance information: http://www.unbiased.co.uk/website/brochures/

Rachel writes for Cashzilla, a personal finance blog.

Through Cashzilla, she expresses her frustration on financial matters and explores her alter-ego as a fictitious, money-wise dinosaur. If anyone is interested in this article or can offer professional counselling, please visit http://www.unbiased.co.uk/website/brochures/

Cashzilla is an Aries. He has a flamboyant character and a tongue that could heat up any conversation. If Cashzilla was an A-Team character, he'd be Murdock. In the words of Cashzilla, "I'm hairy, scary and lairy."

disinfecting cleaning services Highland Park ..

In The News:

Stay up to date on the latest AI technology advancements and learn about the challenges and opportunities AI presents now and for the future.

Microsoft warns Windows 10 users face serious security risks as 90% of ransomware attacks target unsupported systems. Learn why upgrading to Windows 11 is crucial.

Nike unveils Project Amplify, revolutionary motorized shoes developed with Dephy that add powered assistance to every step for runners and walkers.

Cybersecurity experts warn about one of the largest credential compilations ever found, urging users to check "Have I Been Pwned" and change passwords immediately.

Quick iPhone and Android battery optimization techniques help your device stay powered all day by turning off hidden features that secretly drain power in the background.

Kodiak Driver autonomous truck achieves perfect 98 safety score, matching top human fleets in groundbreaking AI evaluation by Nauto's VERA system.

New 401k catch-up contribution rules in 2026 will change taxes for high earners over 50. Learn how scammers exploit these changes and protect your retirement savings.

Kurt Knutsson's guide covers social media privacy protection through location settings, account privacy controls and two-factor authentication to prevent scams and data breaches.

Revolutionary retinal implant restores central vision in 80% of patients with advanced macular degeneration, offering hope where treatments once only slowed blindness.

Learn how to use passkeys on Windows and Mac computers without cameras or fingerprint readers. Discover secure authentication methods that replace passwords.

Tesla's FSD v14.1.2 update reintroduces Mad Max mode, enabling higher speeds and more frequent lane changes than the standard Hurry profile setting.

A phishing email scam targeting American Express customers shows how cybercriminals use fake urgent messages to steal personal and financial information.

Facebook's new Meta AI feature analyzes your camera roll photos to create polished collages automatically, but requires cloud processing and raises privacy concerns.

A New Jersey teenager filed a major lawsuit against AI/Robotics Venture Strategy 3 Ltd. over ClothOff, an AI tool that created fake nude images from her social media photos.

Microsoft reports Storm-2657 cybercriminals sent phishing emails to 6,000 addresses at 25 universities to steal payroll credentials and redirect funds.

Astronomers have discovered asteroid 2025 SC79, a skyscraper-sized space rock orbiting the sun in just 128 days. the second-fastest known.

The Fox News AI Newsletter delivers the latest developments form the world of artificial intelligence, including the technology's challenges and opportunities.

A cyberattack on SimonMed Imaging exposed personal information of 1.2 million patients, including medical records, financial details and identity papers.

Spotify's managed accounts for kids under 13 now available in at least seven countries, allowing parents to filter and block explicit content and songs.

Friendly text conversations about BBQs and social events can lead to WEEX gold trading scams that target older adults with fake investment opportunities.

California company Skyeports creates self-healing glass spheres from Moon regolith that generate solar power and support plant growth for sustainable lunar living.

Cleafy researchers discover fake VPN streaming app Mobdro Pro that installs Klopatra banking Trojan, giving attackers full control over Android devices.

Police departments across the U.S. and Canada are adopting virtual reality training to better prepare officers for high-pressure, real-world situations.

House Bill 469 would prevent AI systems from owning property, serving as executives, or gaining legal personhood in Ohio under Representative Thaddeus Claggett's proposal.

Public voter records expose retirees' personal details to election scammers who create targeted cons using names, addresses, and voting history data.

The Changing Shape of Family Finances

Personal Finance