Thursday 24th January 2008
Consumers must address their impulses if they are to minimise the amount owed on credit card bills, it has been warned.
Online insurer swiftcover.com has found that more than nine in ten Britons bought something they later regretted over the past year.
The biggest waste of money was gadgets, which 48 per cent of respondents state they have bought but never used in the past.
But other areas of unnecessary expenditure include bicycles, clothing and accessories.
And 14 per cent of those surveyed - about one in seven - admit that they dont even think about the price when making a purchase.
Spokesperson for the insurer Tina Shortle comments: "Whether its a pair of killer heels or the latest must-have gadget, it seems that were addicted to spending now, paying later.
"But that means that weve also dropped our guard when it comes to sensible habits like shopping around."
There could be long-term financial benefits to be derived from adopting such sensible habits, in light of recent research from Mindset Media.
Studies conducted by the organisation aim to create a profile of how different people express similar sets of characteristics.
And in its latest profile of credit card users, the firm observes that an organised approach to shopping can be reflected in the way Britons address their credit card bills.
It is 33 per cent more likely that individuals who clear their credit card bills before any interest accrues adopt a considered approach to their purchases in the first place, rather than buying on impulse, the investigation detects.
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