WOMEN’S finances have been placed under the spotlight recently – and the verdicts have been less than glowing.

Firstly, concerns have been raised about the gender pay gap as a survey has found only one in four women workers are confident they’ll receive a pay rise over the next year. This compares with 40 per cent of men who are expecting a higher salary.

The survey of 2,000 adults for jobs site Glassdoor also showed women were less likely than men to leave a job because of low pay.

There is another area where women have now surpassed men – but it’s hardly a cause for celebration.

For the first time, women are more likely than men to see their finances deteriorate to such an extent they are declared insolvent, official figures for England and Wales have shown.

The personal insolvency rate for women overtook that for men in 2014, according to the Insolvency Service’s records.

So why is the insolvency rate for women now higher than that for men?

According to the Insolvency Service, the main reason for the higher female rate is that women are more likely to turn to a type of insolvency called a debt relief order (DRO).

DROs were introduced in 2009, and are often dubbed “bankruptcy light” as they are aimed at people with smaller amounts of debt – less than £15,000 – who have no realistic prospect of paying it off. There have been some suggestions from experts that women are more likely to find their finances overwhelmed by consumer debt.

In general, insolvency rates have been decreasing since 2009, with low interest rates keeping the cost of borrowing relatively cheap.

Meanwhile, a new report from Savvy Woman, surveying 2,000 people, has found finances are a major source of friction among couples.

Money is more likely to provoke an argument between couples than household chores, relatives, children, sex and past relationships. Cleanliness and tidiness were the only factors more likely to be at the root of a row between couples than finances.

Younger women were the most likely to argue with their partner about finances, while older couples aged 55-plus were the least likely to do this.

The report also found that more than one in 10 (11 per cent) of women said they have had to pay off some of an ex-partner’s debts.

SavvyWoman says it receives a steady stream of emails and comments from women who only discover the true picture of their partner’s finances when the relationship breaks down.

Sarah Pennells, founder of SavvyWoman.co.uk, says: “I’ve been contacted by a number of women who tell me they’ve been left with their partner’s debts once the relationship has ended, and it seems this isn’t uncommon.

“It’s vital that couples know what their responsibilities are if they take out joint loans and that they try and agree how debts and bills should be paid if they split up.”