14 March 2005
The UK's very own collection of "desperate housewives" are being advised to apply for personal loans amidst an escalating spending trend currently sweeping the nation.
A survey conducted during the first three months of 2005 bears witness to an increase in spending on the part of UK housewives, much of which is attributed to simply keeping up with the neighbours.
Figures suggest £5 billion has been spent on account of this with more than one in four women claiming the hit US drama "Desperate Housewives" put them under pressure to match their neighbours.
UK women are now splashing an average of £3,488 each on personal appearance and that of their home and garden, the report also reveals.
Financial experts have responded to these findings by suggesting those giving into temptation to borrow to impress the neighbours should opt for a good value secured loan rather than high-interest credit cards.
"Women do feel pressure to keep up with their neighbours and around a quarter are spending on their credit card to do so.
"For those women who've already spent on 'keeping up with the Van de Kamps' it may be a good idea to review spending," said Scott Mowbray of Virgin Money.
Anyone considering personal loans is advised to shop around by using a financial comparison website such as uSwitch.com.
Use uSwitch's free and impartial loan comparison calculator to find the loan to suit you.
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