Lent is spent

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Lent is spent

Wed 21st Feb 2007

Putting money away for a rainy day during Lent could be the order of the day for Brits still feeling the pinch after Christmas, price comparison website moneysupermarket says.

During Lent, if Brits managed to reduce the amount of non-essential items that they buy, a cumulative saving of £22.6 billion would be made.

Spread this across the course of a lifetime and moneysupermarket has estimated that the average Brit could be more than £142,000 better off by the time they reach retirement age.

Stuart Glendinning, managing director at moneysupermarket, explained that such a figure relates to restricting things such as coffee, cigarettes and magazines and putting the money into a savings account instead.

He added: "Lent could trigger people to give up spending, but really, there's no time like the present and those serious about saving should seriously think about cutting down on non-essential purchases."

The moneysupermarket survey found that 63 per cent of Brits currently make non-essential purchases every week.

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