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Women 'planning to boost savings in 2010'

New research has revealed that women are planning to cut back on their spending on a range of products over the next 12 months.

The study by Co-operative Bank Savings found that 75 per cent of females are not planning any unnecessary purchases over 2010, with many looking to reduce their spending on clothes, meals out and fashion accessories.

It also revealed that 75 per cent of women are trying to save more and feel they are becoming savvier when it comes to how they spend money.

John Hughes, director of retail products for The Co-operative Bank, said: "The research clearly demonstrates that women are now much savvier with the way they spend and save their money.

"They are sticking to a budget and paying greater attention to their bank balances."

Recent research by Birmingham Midshires found that Brits have increased their savings by 136 per cent in the past 12 months.