Debt worries could be driving spending cutbacks

Wed, 14 Sep 2011

Fears regarding debt could be one of the main reasons why people in the UK are currently reining in their spending.

New research from Santander Credit Cards has shown many individuals are reducing the amount of money they spend on their partners due to financial concerns and the rising cost of living.

The study revealed adults are now parting with £8 billion less a year than they used to do when it comes to splashing out on their other half.

This marks an average fall of 20 per cent - from £1,103 a year to £879 every 12 months.

Callum Gibson, managing director at the organisation - part of the Santander Group, which has a history stretching back to 1857 - said: " Inflation and other economic concerns are having a real effect on people's expenditure and our research shows that this can affect all types of relationship."

He added these pairings range from long-term married couples to boyfriend and girlfriends heading out on casual dates.
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