Australian women are choosing to work longer hours and cut back on personal spending to combat the effects of the economic downturn, a new survey from Westpac Banking Corp says.
The survey found that almost 50 per cent of the 1,006 women surveyed stated that they were working longer hours or had returned to work early from maternity leave.
The survey also found that almost three quarters of those questioned stated that their quality of life had been negatively impacted by the global financial crisis, as they struggle to manage the increase in the cost of basic outgoings, such as petrol and groceries.
To tackle these issues, Australian women are working longer hours and reducing personal spending, with more than 80 per cent of women cutting back on the amount they spend on themselves in order to maintain spending in other areas, particularly on their families.
Westpac head of Women’s Markets, Larke Riemer, said whilst all Australians were feeling the pinch of the economic downturn, the research highlighted the major impact it was having on working women.
“Women are juggling increased workloads with the everyday pressure of maintaining family life,” Ms Riemer said.
“However, the resilient nature of Australian women is also shown as they focus on hard work and sensible spending as a way to weather the financial storm.”
Westpac said the survey was conducted in August by Pure Profile on behalf of the bank.
The representative sample was 1,006 working women aged between 18 and 64 years of age.