Wednesday, March 4, 2009
Category:
Consolidation
According to Halifax credit cards, shoppers are spending an average of £41 on flowers and over £170 on jewellery for Valentine’s Day.
It would seem that presents are not the only thing on romantic minds during this amorous time of year – Halifax credit card holders were spending £42 on clothing, £43 on cosmetics and £38 on footwear in preparation.
When it comes to the regions, those in the South are reported to have spent £504 on city breaks and holidays in order to surprise loved ones. Romantics in the North spent £184 on jewellery and in Scotland, £69 was spent on dining out. In the midlands £43 was spent on flowers. Average spend on flowers ranged from £37 to £43 across the country. Spend on chocolates mounted up to £43 in Northern Ireland compared to just £16 in the East Midlands. Expenditure on jewellery ranged from £138 in Wales to £219 in the South East.
Getting engaged is a Valentine’s Day focus for many, with February 14th being reported as one of the most common days of the year to do so. According to tradition, men shell out around a month’s salary on an engagement ring. Research from the Halifax has shown that 69 per cent of British men anticipate spending between half a month and a month’s salary on the ring.
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Homeowners who have splashed out using credit or store cards for Valentine’s Day, and who may also have existing credit and store card debts from the festive season could consider a secured loan to
consolidate their debts. One of many options to consolidate existing debt, secured loans can be repaid over a term to suit the borrower, usually from 5 to 25 years. Consolidating debt over a longer term may increase the amount paid back overall and extend the repayment period of debts. A secured loan may also be considered to consolidate wedding expenses for those who decided to get married on Valentine’s Day.
