Amárach the Irish research company had conducted research into Female Finances. Amárach carried out the work for Halifax and were looking into the future of Ireland’s personal wealth and identified four distinct groups of female consumers in relation to money and finances as follows:

Source: Amárach Survey for Halifax, 2007

Livin’ it Up Linda
One in four women (25%) fall into the Livin’ it Up Linda mindset, these women are under 25 and have a third level education. Lindas are working full time, most possibly in their first or second job and are more likely to be renting their home. Interestingly these women classify themselves as a joint income earner in their household.

Overall Livin’ it up Linda like to keep up with fashion and technology, they like to go out, go new places on holiday and enjoy a night out in the pub. They do admit they are not prudent with their money and do not follow a budget and consequently may spend without thinking.

Spend Thrift Susan
Just over one in five women (22%) fall into the Spend Thrift Susan mindset. These women are aged between 25 and 44, tend to live in large urban areas and have a third level education. Like their younger sisters these women have a mid level income and while they have made an investment in their own homes they do not see themselves as investors.

As comes with age these women are worried about making ends meet and they do worry about their spending habits as they like to follow fashion, like to spend money on their homes and as such have a tendency to spend without thinking. These women are not savers and use their spending ability to show their success to the world, as such may not be able to provide for themselves in the long term.

Savvy Sinead
These organised ladies are aged between 35-44 and make up one fifth of women in Ireland. They tend to live outside large urban areas, own their own homes and have a good income.

Overall these women are organised, financially aware and savvy with their cash. They like to save for the future they have planned for themselves and their families, shop around for good financial offers and generally keep track of their money.

Careful Kate
Almost one in three women (29%) falls into the Careful Kate mindset. Careful Kates are older, live in more rural areas and tend not to have a third level education.

In terms of their finances these women are not investors and have little by way of financial products other than their current accounts. They do not hold any loans, do not have a mortgage but worryingly because they are older have not provisions made for their golden years.

For more about the Halifax ‘Women and Banking’ study check out the Latest News at: www.halifax.ie