MoneyMagpie

Mar 08

Wasteful Brits spend a staggering amount on products they won’t use just to keep up with the Joneses

Reading Time: 2 minutes

A study has revealed that we shell out thousands in a lifetime for “totally unnecessary” items, including DIY tools, beauty products and gadgets

The cost of keeping up with the Joneses has been revealed as latest figures show Brits waste £160,000 in a lifetime on things they’ll never use.

Almost a quarter of average-earning adults waste £4,000 each year on “totally unnecessary” items to impress potential partners, friends and neighbours.

They splash out more than £300-a-month on the latest clothes, beauty products, and must-have gadgets that are “openly flaunted” whenever possible.

Homes are decked out with soft furnishings, DIY tools showcased in the garage, and bookshelves stocked with novels to demonstrate “cultural superiority”.

Trendy outdoor furniture, meanwhile, is exhibited in the garden in case a neighbour happens to peep “over the fence”.

Garden Furniture

Big spenders: Brits spend plenty on garden furniture – and many won’t even use it (Photo: Getty)

 

After going on show for “just the right amount of time”, the majority of new goods are left to gather dust in the attic with only a fraction being sold or donated to charity, a survey has found.

The majority of Britons (44%) spend up to £1,000 per year on so-called ‘poser purchases’ that will rarely be used and were never really needed.

But some 18% will “happily” fork out four times that amount to keep up appearances, according to a nationwide study by Moneymagpie.com.

In the course of a 40-year ‘spending lifetime’, between the ages of 25 and 65, this equates to… Read the full article.

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