Women 'putting fashion before finances'

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Women aged between 25 and 45 are putting their lifestyles ahead of their long-term financial planning, according to new figures.

In a study by Friends Provident, it was found that around as many women in the so-called "Sex and the City generation" have 30 pairs of shoes as have a personal pension.

The research revealed that around one in six consider their finances less than once a month, while only 14 per cent are concerned about not having enough money in retirement.

Christine O'Grady, senior media relations executive at Friends Provident, claimed the study showed women do not regard financial matters as highly as they should.

She said: "We are urging women to take control of their money and make sure that they reach a balance between enjoying themselves and 'living for today' as well as planning and saving for emergencies and an enjoyable retirement."

Previous research by Friends Provident revealed that those who rent a property in later life need more money in retirement than people that own a home at the same age.

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