Women over 35 top 'binge debt Britain' poll

Last updated at 16:28 27 October 2006


Women in the UK are burdened with more than twice as much (139 per cent) debt than men, according to the results of a new survey.

Research from independent financial advisers Sesame reveals that, excluding mortgage debt, the average woman over the age of 35 owes £8,219 compared with £3,436 for the typical man.

Despite the high debt levels, one in three women said they were not worried about how they would repay debts in the longer term.

Nevertheless, more than half of all women polled admitted that they would feel embarrassed if people found out they were in debt at all.

Of those quizzed who owed money, the survey identified a growing debt problem for both sexes in the 45 to 54 age group, where average debt breaches the £16,800 mark, according to Sesame.

The survey also found that one in four pensioners is racking up debt despite having no intention of paying it off.

Alastair Conway, head of customer propositions at Sesame, said: "Never mind binge drink Britain, there is a growing epidemic of binge debt Britain that could prove to be just as detrimental to women's financial health as binge drinking is to their actual health.

"It seems that women are being clobbered from both sides, with accumulated debt being compounded by the difficulties many women face in funding an adequate income in retirement."

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