As well as being the day of the week which a large number of people look forward to the most, a recent study has unveiled that Saturday is also when shoppers are most likely to splash the cash. In research carried out by the Co-operative Bank Credit Cards, it was shown the average Briton will spend just under 175 pounds on this particular day. 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. Spread over a lifetime, total spending 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 difficulties look to be leaving many with a fiscal hangover as Monday arrives. slightly less than three-quarters (72 per cent) of those surveyed indicated that they spend more cash during At weekends than they had anticipated, with 36 per cent claiming to feel guilty about their expenditure once the weekend is over.
For those customers who are seeking an practical way in which to fortify their spending, applying for a low rate loan might be a good course of action.
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. Total expenditure on these areas comes to 47 pounds.
Additionally, eating and drinking out results in typical saturday spending of more than 38 pounds. An average of 11 pounds and 83 pence goes towards electronic goods such as computers and DVDs, while contributions to travel expenses stands at over ten pounds. Hobbies and sporting accessories accounted for 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 lot 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 plan ahead with their spending so it isn't a big shock when their bills come through the door."
Those buyers looking to make a significant acquisition or want to supplement their finances, taking out a low cost 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 and are left with an affordable rate of repayments to make each month. Selecting this loan type could be a good recommendation after a study carried out by IFA Promotion website Unbiased in April 2007 showed that a lot oft of buyers have a "buy now, think later" attitude towards shopping. An estimated 7.5 million people were shown to make short term financial decisions, with three million purchasing things solely on desirability.
