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Brits 'use savings for treats'

Many people in the UK frequently treat themselves with the savings put aside for their future, it has been revealed.

According to a survey by moneysupermarket.com, two-thirds of people do not mind using their savings to make special purchases, despite the fact that this money is usually meant to serve a particular purpose.

The study found that peace of mind and providing for retirement or the future were the two most popular reasons for saving among British consumers.

"It's interesting to see many savers full of good intentions can't resist a sneaky dip into their cash to treat themselves," said Kevin Mountford, head of savings at the financial comparison website.

"There is no harm in this as long as there is an element of control," he added.

Earlier this week, a separate piece of research from moneysupermarket.com found that the average British holidaymaker spends £700 on travel items while preparing for their trip.

Personal loans can provide another way for people to make special purchases.

See how much you could borrow with a personal loan from Lombard Direct.
© Adfero Ltd

31/10/2007 14:29:19

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