'Pointless' purchases costing Britons

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'Pointless' purchases costing Britons

Tue 17th Jul 2007

Britons are being encouraged to refrain from making pointless purchases which have strapped them of their hard-earned cash to the tune of some £169 billion.

Research from Abbey shows that almost 50 per cent of consumers have bought clothes that they rarely wear.

Other items bought in acts of frivolity which rarely get used include exercise equipment and bicycles, while eight per cent of us have a gym membership which never gets used.

Women appear to be the biggest squanderers of money in this respect, with over half wearing clothes not worn, while well over two-fifths have uncomfortable shoes.

Reza Attar Zadeh, head of savings at Abbey, said: "It seems that the majority of Brits aren't making their assets work hard enough for them," adding that Britons should make their money work harder for them.

The Abbey super monthly saver account offers customers with an existing account worth the group a rate of ten per cent, while the savvy consumer can also invest in an Abbey guaranteed growth plan.

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