18 July 2005
According to latest findings, 8.9 million Brits have actually increased their spending by around a quarter in the last year.
In spite of warnings of a consumer slowdown, Sainsbury's Bank's Retail Therapy Index has revealed that more than 32 million people spend an average of £95 a month on retail therapy. Such a habit a UK total of £3 billion.
Lucy Hunter of Sainsbury's Bank, said: "It looks like retail therapy is still alive and well."
The latest Index findings also show that 17.5 million women spend money on retail therapy compared to 14.6 million men.
But men are now spending more than women - £105 as opposed to £85, whereas this was the other way round a year ago.
However, retail therapy does not come cheap, and sometimes the item one wants can be just out of reach and it is tempting to reach for a credit card. A well chosen loan can be a cheaper way of funding such extravagances.
Compare all UK personal loans at uSwitch.com comparison service and find the one to suit your needs
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