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Pensions: Shoes take priority for Sex and the City generation

Sex and the City generation look to Mr Big

Saturday, 17 May 2008 00:00
One in five women aged 25 to 45 – the so called 'Sex and the City generation' – are relying on Mr Big to provide their future financial stability.

A study by Friends Provident reveals today's young women are more fashionistas than cashonistas.

Some 27 per cent of women aged 25 to 45 have over 30 pairs of shoes, but only 23 per cent have personal pensions.

It seems young single women may soon be facing the reality – as Carrie did – that they will "literally will be the old woman who lived in her shoes".

The Friends Provident report found: "Many women are spending too much on the day-to-day, not investing enough in the future via savings or pensions, and not putting enough effort into managing their careers."

Of the singletons polled, 41 per cent saved less than £200 last year, but 36 per cent spend over £50 a month on clothes and accessories.

Furthermore, four per cent spend over £200 a year on beauty treatments – no doubt a fair investment if they are planning on hooking a Mr Big to fund their future finances.

Christine O'Grady, senior retail media relations executive at Friends Provident, said: "The Sex and the City generation is playing a dangerous game, gambling with the future. Just 23 per cent of the single women asked have a pension and 20 per cent have life or health insurance, yet just over a quarter own more than 30 pairs of shoes.

"Women often have a more sporadic earning pattern than men and we urge them to take time to look at their finances and think about the future. Some may be lucky enough to find a knight in shining armour but for those who aren't, becoming more of a Miranda than a Carrie could help make their dreams a reality."

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