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Spending Habits

Brits set to spend £1,500 each to have themselves ‘a wonderful Christmas time’

With stockings to fill, turkeys to stuff and seasonal breaks to be had, Brits intend to spend nearly £1,500 (£1,484) each this festive season.

A cut in VAT could plough billions into UK businesses

Research from commercial insurer NFU Mutual has found that two thirds of consumers would increase spending if a reduction in VAT is announced in the Autumn Statement.

Spending declines by half between early and later retirement

New analysis of income and average expenditure statistics by Aegon has found that spending falls by half amongst those aged 50-65 to those aged 75 and over.

50 Days to Christmas... but half of Brits yet to hit the shops

With 50 days to go, the countdown to Christmas is now definitely on. However, research from American Express shows that many Brits are yet to catch the Christmas spirit with over half (54%) still to start their seasonal shopping and of these, 22% are planning to delay it until December.

UK retail sales to grow an estimated 2.5.% in December 2016

UK retail sales to grow an estimated 2.5.% in December 2016

As Brits start to turn their minds towards filling this year’s stockings, Mintel estimates that total UK retail sales will grow 2.5% in December 2016 to reach £42.2 billion.

Playground pressure sees parents spend nearly £350 to kit the kids out for school

Parents’ purses may have taken a hit over the recent school holidays, but there is now one more cost to plan for.

Brexit uncertainty puts Brits on hold

New research from Gocompare.com suggests that uncertainty about the fallout following the UK’s decision to leave the EU means that many Brits are putting their lives on hold.

Peer pressure costing parents £6 billion a year

Nearly half of parents (48%) feel compelled to make ‘peer-pressured parental purchases’ for their children such as smartphones, fashionable clothing and expensive parties, according to research from Sainsbury’s Bank.

Brits spend nearly a week's salary to attend weddings

With wedding season upon us and people gearing up to attend their nearest and dearest's big day, new research from American Express reveals guests are set to spend £479 per wedding this year. This is just £24 less than the UK average weekly salary.

Decline in UK essential spending slowed in May

Consumer spending on essentials fell once again in May, though the pace of decline was at its slowest since March 2015, according to the latest Lloyds Bank Spending Power Report.

Well-off Brits bankroll the good life

Well-off Brits bankroll the good life

Jet-setting, gourmet dining and sparkling wine: new research from Mintel finds that certain markets are flourishing as a result of the UK’s two-track recovery.

Recent upturn in UK essential spending falters

Consumer spending on essentials fell once more in April, with the pace of decline increasing for the first time since November, according to the latest Lloyds Bank Spending Power Report.

People still cautious about their finances despite wage increases and low inflation

New research to support the launch of Sainsbury’s Bank’s first ever ‘Family Finance Report’ reveals that, despite the emergence of green economic shoots, the majority of people in the UK are not feeling any better or worse about their finances this year than in 2015.

Households underestimate annual bills by £39 billion

As many British households feel the squeeze ahead of the January pay day and look to review their finances for the year ahead, new research from Santander Current Accounts reveals bill payers underestimated their main expenses – council tax, utilities and TV, phone and broadband - by an average of £1,459 last year.

Thrifty Brits expect to spend less this Christmas

Don’t expect too much in your stocking this Christmas as thrifty Brits rein in their spending habits in the lead up to this festive season.