Wednesday, February 24, 2010
Category:
Consolidation
Research conducted by Clydesdale Bank has revealed that couples could have expected to spend a substantial sum of £550 on Valentine’s Day, which equates to £4.9 billion.
In relation to the gender divide, it was estimated that women would spend £338 on Valentine’s Day – a third more than men. Despite the fact that it is traditionally the man in the relationship who ‘picks up the bill for dinner, wine and flowers’,on average women spend £100 more in order to ensure a successful ‘seductive evening’. The research has shown that the most significant proportion of a woman’s outlay is spent on their appearance, with £100 being shelled out for a new high street outfit. In excess of £50 is also reportedly also spent on a ‘stylish cut and blow-dry’, whilst £130 is spent on beauty treatments such as tanning and manicures. In contrast, it was found that the average male will make purchases ranging from a ‘DVD and takeaway’ to an ‘extravagant evening of dining out at an exclusive restaurant’.
Retail Director at Clydesdale Bank, Steve Reid, commented: "On Valentine's Day people not only like to treat their partner but themselves too.
"Our research looked at the different spending habits of men and women, expecting to see men bare the largest cost. But while men go for the gestures like, flowers and dinner, women splash out much more in ensuring they look and feel their best for their partner."
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Homeowners who have relied on credit to fund purchases, and who would like to consolidate their existing credit could consider completely re-organising their finances with a secured loan. One of many finance options available, a secured loan for
consolidation could allow borrowers to tie up any existing debts into one place. In taking this approach, monthly outgoings could be reduced – thereby freeing up useful money each month, which could potentially be set aside in a savings account. However, when taking out a debt consolidation loan, it must be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
