Jul 17 2007
Many thousands of British consumers are missing the opportunity to secure their own or their children's financial futures by squandering money on unwanted goods, it has been claimed.
New research from Abbey Savings shows that UK consumer are wasting millions of pounds every year on clothes that they will rarely wear and fine china sets that are hardly ever used.
And the firm behind the study is convinced that if Britons cut out the unnecessary expenditures and focussed on saving instead they could be in for a more secure financial future.
Reza Attar Zadeh, head of savings Abbey, said: "It seems that the majority of Brits aren’t making their assets work hard enough for them.
"With 64 per cent of UK adults having bought a big ticket 'pointless purchase', we'd recommend that people consider carefully where they are investing their hard earned cash."
Figures released by Sainsbury's Bank recently showed that UK consumers are missing out on millions of pounds worth of potential savings by leaving money in their relatively low-interest current accounts.
