Friday 19th of March 2010
Despite recent figures revealing that men are more likely to be given individual voluntary arrangement (IVA) answers than women, a new report shows that males rate their financial IQ higher than females.
Half of you males out there think your monetary intelligence is "excellent" or "good", compared to a third of women.
The poll by Scottish Widows also shows, however, that guys spend more time worrying about their cash then women, although IVA answers could reassure you that there is a way to get out of serious debt.
IVAs can help men and women alike who have unsecured debt - such as personal loans and credit cards - of more than £15,000. All these types of debts are merged into one, more affordable, monthly repayment.
This could take some of stress away if one of your biggest financial headaches comes from trying to keep up with all your different creditors.
A previous Consumer Credit Counselling Service report noted that last year, of those clients it recommended IVAs to, 55.4 per cent were men.
By Rachel Powell
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- Property hunters may need IVA answers
