08 April 2013

Posted by Discount Insurance on Monday, April 08, 2013
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Long heading: Brits are filling their homes with expensive items to appear successful in front of their peers, new research shows.

At a time when most Brits are watching their budgets get tighter, an increasing number of Brits are paying for unnecessary luxury items in an attempt to keep up appearances, new research shows.

The study from Quidco shows that to live the life that most Brits deem truly successful would take £64,000 every year, with a house worth £578,000 and a car worth £27,000. Those with partners expected their other half to be earning a similar amount, taking their overall expectations way above the average for the standard British household.

A hot tub, big-screen TV and team of domestic staff inside this luxury pad would also prove that a worker has ‘made it’.

To inch closer to that dream, Brits are prone to spending more money than they have.

More than an eighth admitted to buying specific brands because they were perceived as integral to being seen as “successful”. One in four, worryingly, said that these purchases were building on credit cards, with an average debt of £6,200.

Sarah Parkin

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