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Men and women battle of purse strings

Men and women have very different ideas about who makes the financial decisions in their household.

According to a poll by the Halifax 57 per cent of men believe they have the final word when it comes to money matters.

But tellingly only six per cent of women say their partners take the big decisions.

"No matter who holds the purse strings, whether it's you, your partner or both, it's important to seek sound financial advice to aid your decision," said Jaedon Green, head of mortgage development at the Halifax.

Managing the household finances is getting increasingly difficult with the economy slowing, fuel and food bills rising and credit becoming harder to obtain.

According to the Financial Services Authority (FSA), 1.4 million people will come off fixed rate mortgages this year, with many facing a sharp rise in their repayments.

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