Lloyds TSB: Millions spent 'easing conscience'

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Lloyds TSB: Millions spent 'easing conscience'

Britons are splashing out to ease their guilty consciences to the tune of hundreds of millions of pounds, research by Lloyds TSB Premier American Express Credit Card has found.

The research discovered that a total of £736 million is being spent each year as Brits panic-buy to ease their collective consciences when buying loved ones gifts near to their birthdays.

It was found that the average spend on birthday presents for partners was £121.26 yet this figure rose to £136.80 when the presents were purchased on the day before the birthday, highlighting consciences at work perhaps.

Colin Walsh, credit card director, Lloyds TSB said: "Life can be stressful and leaving things to the last minute can not only make you feel guilty but cost you a lot more money as you try to rebuild your tarnished reputation.

"The Premier American Express Credit Card can really help people lower their GI [guilt index], acting as an extra pair of hands to help pick perfect presents for a guilt free existence."

The Lloyds TSB Premier American Express Credit Card research also showed that panic spending affected men more than women as their spending on gifts increase by 15 per cent from £128.55 to £148 if left to the last minute.

Lloyds TSB offers advice for guilty people on their website, emphasising the importance of time management and holders of the Lloyds TSB Premier American Express Credit Card can take advantage of membership to TenUK, a lifestyle concierge service.

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