Brits waste wages on pointless purchases
The British public is wasting a huge £169 billion a year on items they don't need, according to new research.The study by Abbey Savings showed that the average person had £3,685 worth of 'pointless purchases', with clothing, footwear and china coming top of the list of unused items.Women appeared to have the most unused clothes and shoes, but men were the worst for collecting gadgets like video cameras and games consoles and then not using them, with 28 per cent committing the crime of senseless spending.Exercise equipment and gym membership also featured high on the list of things we waste our money on.Reza Attar Zadeh, head of savings at Abbey, said: "It seems that the majority of Brits arent making their assets work hard enough for them. "With 64 per cent of UK adults having bought a big ticket 'pointless purchase', we'd recommend that people consider carefully where they are investing their hard earned cash."
Share this..
Related stories
Woolwich Cuts Buy To Let Mortgage Rates
In an attempt to take some of the heat off the buy to let market it has been announced that Woolwich, the mortgage division of Barclays Bank, will be reducing mortgage rates by 0.5% on both standard buy to let mortgage deals and index tracker arrangements. The move is seen as a welcome lifeline to many landlords in the UK who are under pressure at the moment.
The Woolwich move is t...
When will UK savers be rewarded?
At a time when many in the UK are up to their eyeballs in debt it would seem that the government is unwilling to help with those who are saved for years in the hope of giving themselves a comfortable retirement. So how can it be those who have overextended their finances in the short term are the recipients of taxpayer funding while those who have reduced their dependence on the state continue to...
Read MoreThe eight Tory party economic benchmarks
Shadow Chancellor George Osborne has today issued eight Tory party economic benchmark measurements which he believes will allow those in the UK and around the world to measure the performance of the UK economy. One of the major pledges is to retain the UK's AAA credit rating which has been under a little doubt over the last few months because of the large budget deficit predicted for the next few...
Read MoreGreek authorities under pressure from the EU
The EU has today stepped in to support the Greek government which is now running a budget deficit four times the size of any other Eurozone member. The EU economic commissioner Joaquin Almunia has confirmed official support from the EU which has also launched an infringement procedure to ensure that all information reported about the Greek economy is reliable and correct. While the situation in...
Read More‘Thorough competition enquiry needed’ warns energy boss
30/10/2013 The chief executive of one of the largest energy suppliers in the UK, E.On, has called for a competition enquiry into firms, to try and clear energy companies of their bad reputations. Just last week there was public outrage, as British Gas added 9.1pc on to the price of the average bill, and they were quickly followed by three other large energy suppliers. This leaves only two of...
Read More