<< Most Recent Articles

Brits making 'pointless purchases'

Consumers in the UK have wasted a collective £169 million on expensive items that they hardly ever use, it has been claimed.

According to new research from Abbey Savings, the average British shopper has made £3,685 worth of pointless purchases, with clothes, shoes and fine china among the most frequently bought items.

The findings revealed that women are generally more likely to squander their money than men, with 58 per cent admitting to wasting their cash on clothing which they never wear, compared with 40 per cent of men.

Reza Attar Zedah, head of savings at Abbey, said: "It seems that the majority of Brits aren't making their assets work hard enough for them.

"We'd recommend that people consider carefully where they are investing their hard earned cash."

Recent research by MoneyExpert.com found that 4.1 million UK credit card payments were missed in the last six months, suggesting that some consumers may be struggling with their finances due to the impulsive purchase of expensive items. Personal loans can help to consolidate debts and provide some financial organisation.

See how much you could save with a debt consolidation loan from Lombard Direct.

17/07/2007 16:20:18

Most Recent Articles