Brits not tracking everyday spending
(28 February 2006)

Brits spend more on "daily lifestyle purchases" – such as chocolate, cigarettes, snacks and newspapers – than they do holidays and similar major purchases, research from Egg has discovered.

Each year we spend an average of £1,380 a head – and thus a total of £65 billion – on such purchases, and this eclipses the £1,134 per person splashed out on holidays and associated treats.

Despite this hefty amount of day-to-day spending on the smallest of items, such outlays are often not tracked at all – with 51 per cent of those surveyed admitting that they never keep an eye on such purchases.

The cost of living is certainly rising in some cases, with smokers spending an average of £50 per year on cigarettes in 2005, and this makes a tight rein on the finances all the more important.

Egg chief executive Mark Nancarrow said: "It is fascinating that as consumers we spend more on soft drinks, cigarettes, and snacks as we do on going away on holiday, yet keeping track of this spending is not a priority for most people.

"When it comes to daily money management, most admit to having a poor grasp of how much and how regularly they spend on such purchases. Our advice to consumers is to keep a check on all of your spending, regardless of how small and incidental it may seem."

The cost of living is getting no cheaper – and sometimes it can catch you on the hop. In such cases, a payday loan of between £80 and £1000 can ensure that you've got enough money in hand to live as usual over the course of a month – while you perhaps make the necessary adjustments to your longer-term planning in the meantime.



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