• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home News Finance

Poll reveals cash strapped Britain is beset with buyer’s remorse

A new study has revealed buyer’s remorse is becoming increasingly prominent as cashed-strapped Brits are forced to dip into their savings for extravagant buys. Clothes, a car – and engagement rings are among the purchases Brits have bought but later regretted, A poll of 5,000 adults found. More than half have dipped into their savings […]

Jack Peat by Jack Peat
2018-05-02 06:55
in Finance, News
FacebookTwitterLinkedinEmailWhatsapp

A new study has revealed buyer’s remorse is becoming increasingly prominent as cashed-strapped Brits are forced to dip into their savings for extravagant buys.

Clothes, a car – and engagement rings are among the purchases Brits have bought but later regretted, A poll of 5,000 adults found.

More than half have dipped into their savings to splurge on an extravagant buy but ended up wishing they hadn’t.

And almost one in ten even admitted regretting their purchase within minutes of parting with the cash, while another 15 per cent said the guilt kicked in within an hour.

Fast food, home furnishings and even a house are also among the purchases people have later regretted.

The Save the Savings study, by Carphone Warehouse in a bid to help Brits become better savers, also found impulsive purchases are costing the average adult £289 a year.

Spokesman Carl Doran said: “We all have those moments when we see something and really want to buy it.

“But while we might want it at that precise moment, it’s easy to make a purchase – particularly a big one – and start to question whether it was the right decision soon afterwards.

“It’s made even worse if we have had to dip into our hard-earned savings to be able to buy it.”

RelatedPosts

Bob Vylan album surges up the charts after Glastonbury controversy

Police arrest 83-year-old priest holding placard in support of Palestine Action

Gary Lineker says BBC should ‘hold its head in shame’ for not airing Gaza documentary

Donald Trump announces he plans to host UFC fight at the White House

Researchers found 38 per cent dive into their savings at least once a month to treat themselves, but just 18 per cent put the money back in every time.

One in five even admit their spontaneous spending has led to rows with their partner, with 46 per cent saying this was because they were meant to be saving money.

Others got annoyed because they didn’t agree with their purchase or said it was too expensive.

Worryingly, the poll also revealed almost one in five adults admit to dipping into their savings while under the influence of alcohol – something 56 per cent later feel guilty about after sobering up.

And it’s no surprise with those drunken spenders parting with an average of £147 a year on alcohol-influenced buys they don’t really need or want.

One respondent admitted to buying 10 plastic flamingos for their garden while another drunkenly paid for a caravan in Spain.

TLE

Sixteen per cent of Brits also admitted to having deliveries turn up and having no idea what to expect when they opened the packaging.

The research also suggests attitudes towards impulse spending and buyer’s regret varies depending on where you live, with respondents in Birmingham most likely to make an impulse purchase and worry about the cost later.

But those in Bristol are more likely to think before they buy.

In light of this study, Carphone Warehouse – the home of comparison for a better deal on mobile, TV, broadband and energy contracts – is urging the nation to be extra vigilant prior to rushing into a contract which they might later regret.

Doran added: “At Carphone Warehouse we understand our customers’ specific needs and tailor it to the best offers across a wide range of networks and ways to pay.

“Rather than impulse buying, we encourage our customers to take a considered approach, using our 30 years of expertise and unique comparison tools to ensure customers are getting the best deal, minimising hidden surprises and allowing customers to save their money for the purchases which matter most.”

 

Among the purchases Brits buy but later regret are:

Clothes
Fast food
A car
Home furnishings
A house
Memorabilia
A holiday
A pet
Designer handbag
An engagement ring

RELATED 

https://www.thelondoneconomic.com/news/finance-2/from-romance-to-ruin-financial-disclosure-and-fraud-in-divorce/12/03/

https://www.thelondoneconomic.com/news/amazon-in-talks-about-creating-bank-service-aimed-at-young-consumers/08/03/

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Watch -Thug caught on CCTV vandalising ambulance while paramedics treated a patient inside ← Film Review: Mary And The Witch’s Flower
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->