VIDEO: ‘Men worse at handling money’

THE boss of a bailiff company has said what many believe about women – they’re much better at handling money than men.

Tony Pycroft, of Selby based Juious Bailiffs, conducted a survey of attitudes to money in Selby. The survey found that most people thought women should hold the purse strings.

Million dollar question: Are men worse than women at handling money?

Million dollar question: Are men worse than women at handling money?

VIDEO: Press the play button to watch our video report.

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Mr Pycroft said: “Men often have a head in the sand approach. They let it all build up and hope it will go away. It won’t.

But Mr Pycroft, whose bailiff firm works throughout the UK, is in a unique position at the sharp end of Britain’s debt crisis

He continued: “It is a generalisation. However, the stats do back that up and over my years of experience, it’s men who seem to be far more in debt and quite frankly incapable of looking after money in the same way women can.”

And he offered this advice: “The first thing to do is sit down, have a breath, think it’s not going to go away and pick up the phone. Either ring the creditor, the bailiff company if its as far as that or ring one of the organisations out there like the citizen’s advice bureau or the Consumer Credit Counselling Service, who are excellent. By dealing with it they can get the matter resolved with the minimum of expense.”

A survey by the Consumer Credit Counselling Service found their male home-owning clients’ income did not cover their day to day living expenses including mortgage repayments. While the average woman had a monthly budget surplus of £27, their average male home-owning client had a deficit of £3.

The charity found that of their clients who owned their own homes, men had an average unsecured debt of £31,683 compared to £25,435 for a female home-owning CCCs client.

My Pycroft said: “The CCCS findings ring true to many people involved in debt recovery. And probably to many women!

“There are people out there who don’t understand that all it will take is a phone call. If it’s council tax, they can resolve the matter by ringing the council when the y first realise they are going to struggle to pay it or indeed any other creditor.

“Every creditor I have dealt with over the years would much rather have a phone call and try to get the matter resolved as early as possible than send it out for enforcement work.

And Mr Pycroft added: “It’s the embarrassment factor for men. It’s from the stone age – the hunter gatherer – when they have problems they don’t want to share them or appear weak.”