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Study Indicates Spending Levels Increase On Saturdays
 
Written by Mark Dawson, on 24-05-2008 15:33
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In research carried out by the Co-operative Bank Credit Cards, it was shown the typical Briton will spend a little less than 175 pounds on this day of the week. This spending - which ranges from areas such as clothing and provisions to parking and make-up - accounts for some 9,077 pounds in a 365 day period. Consider this over a lifetime expenditure on this time on this day will come to more than 549,000 pounds.

And although significant numbers of people look forward to having a good time at the weekend, money management problems seem to be leaving many with a fiscal headache as Monday arrives. Slightly less than three-quarters (72 per cent) of those questioned indicated that they spend more cash during At weekends than they had thought they would, with 36 per cent claiming to feel guilty about their spending once the weekend is over.

For those shoppers who are requiring an effective way in which to increase their disposable income, applying for a cheap loan may be a good recommendation.

The study from the financial services firm showed that a large proportion of cash goes toward shopping sprees. Just over 21 pounds goes toward clothes, with 25 pounds and 44 pence splashed out on shoes. Overall, spending on these areas come to 47 pounds.

On top of that, eating and drinking out results in a further saturday spend of more than 38 pounds. An average of 11 pounds and 83 pence goes towards electronic goods such as computers and DVDs, while the cost of travel stands at over ten pounds. Hobbies and sporting accessories were each revealed to cost just less than nine pounds.

Commenting on the figures, Maxine Xodo, product manager at the credit cards division of the Co-operative Bank, said: “It’s incredible to think that Saturday spending could add up to so much. But as a nation we work some of the longest hours in Europe and a large number of people live for the weekend, with Saturday being the one day where people feel they can let their hair down and enjoy themselves. However it is important for people to keep tabs on their spending so it doesn’t come as a bit of a shock when their bills come through the door.”

Those customers looking to make a significant acquisition or want to supplement their finances, taking out a cheap loan might be a good course of action. In doing this, borrowers may find that they are able to effectively buy an item - whether it is designer brand clothes, a new car or sporting equipment - effectively and are left with easily affordable repayments to make each month. Selecting these kind of loans could be particularly recommended after a study carried out by IFA Promotion website Unbiased in April 2007 showed that many buyers have a “buy now, think later” attitude towards shopping. An estimated 7.5 million people were shown to make financial decisions for the near future, with three million purchasing things solely on desirability.


Mark Dawson writes for Loan Arrangers, the website where you can Compare Loans, to find the best Cheap Loans at low rates.Bad Credit Loans are also available.

 

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Last update: 24-05-2008 15:33

Published in : Finance, Debt
Keywords : cheap loans, loans, cheap loan
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