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20% of Brits take out debt to pay for dates


New research from Debt Advisory Centre has found that Brits are spending thousands on the search for love, with 20% of people in the UK using credit to pay for a date.

A quarter of men and 11% of women have ended up paying for a date with credit, borrowing on average £164. The most popular form of borrowing was in the shape of a credit card, , but almost a quarter borrowed money from friends and family and 6% even went as far as taking out a payday loan.
The top reason expressed for taking out credit to fund a date was the desire to impress and to give the impression they could spend more money than they can actually afford. More than half of people asked claimed that they did not regret taking out the money and would do it again. Only 10% of people asked thought afterwards that it was a bad decision.

Melanie Taylor, a spokeswoman for Debt Advisory Centre, said “People feeling under pressure to spend beyond their means, simply to impress, is worrying.

“Most people are comfortable with splitting the cost of dates, rather than expecting one party to pay for everything.

“People should remember that credit needs to be repaid, and it can cause serious problems if it becomes unmanageable. Using credit to fund a lifestyle that you can’t afford is a definite sign that you need to reconsider your priorities. If you’re in need of some budgeting help, or are already struggling, talk to an expert.”

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