Women are big on loyalty. Sometimes that’s good for us. Other times it isn’t.
(image David Palmer)
Reasons to be loyal:
- when someone criticises a colleague behind their back, it’s good to stick up for them
- when your best friend’s going through a tough time, even if she forgets your birthday, stay in there
- when no-one likes your husband’s Boris-Johnson-lookalike hair style, you think he’s gorgeous
Reasons not to be loyal
- when you repeatedly get crap service from your bank
- when the credit card you pay off every month doesn’t reward you (in cash back, points, air miles or similar)
- when the introductory bonus deal on your savings has run out and been replaced by a paltry rate of interest
- when the value of your endowment policy has dwindled to a teeny fraction of what it promised to be
So whereas women are loyal to their loved ones, it doesn't always pay to be loyal with money.
And maybe that’s why more women than men lose out.
Ali Hussein’s article in the Sunday Times today - on how some insurers, energy and savings providers actually punish loyalty is quite an eye-opener!