Snacks divert Brits from future financial planning
(03 March 2006)

Here's some quite literally unpalatable news – by slashing their expenditure on coffees and assorted snacks, Brits could save enough to pay their mortgages eight and a half years sooner, or even double their retirement incomes.

This assertion comes after research from CreditExpert revealed that we each spend an average of £57,434 over our working lifetimes on non-essential perks such as snacks, lottery tickets and similar seemingly-trifling vices.

This equates to a startling £1,222 annually – and if this money were saved it could, for example, nearly double a typical tax-free pension lump sum upon retirement from £22,000 to £41,000.

Jim Hodgkins, CreditExpert's managing director, said: "Our research highlights that the little decisions we make everyday, such as whether to buy a coffee or a small treat, can soon add up.

"In the long term, they will make a real difference, one way or the other, to how quickly we own our homes or, how much we’ll have in retirement."

If you want to start putting the brakes on your casual spending and contributing to something such as a pension plan, but aren't entirely sure that you have enough cash left in your budget to the end of the month, a payday loan could set you straight while you tailor your future spending plans accordingly.

Up to £1,000 is borrowable, paying back no more than £25 for every £100 spent – and it will be in your account within 24 hours of your request.



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