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"More people spend more money on their credit cards on Saturdays"

By admin | July 14th, 2008 | Credit Cards

A recent report has highlighted how many people spend far more money on their credit cards on Saturdays compared to any other day of the week. In fact, the research indicated that over our lifetimes the average cardholder will spend in excess of half a million on a credit card just on Saturdays, reflecting the significant increases in spending on this particular day of the week.

The rise in credit card spending on Saturday has been attributed to a number of factors. Firstly, the weekend is the time when most of us do not have to work, have time to relax and spend time out and about, and have the opportunity to get some serious retail therapy or spend time enjoying our favourite leisure activities. Secondly, shops and markets tend to be open longer on Saturdays, and many people see this day as a traditional day for shopping.

One industry official stated: “As a nation we work some of the longest hours in Europe and a large number of us live for the weekend, with Saturday being the one day where people feel they can let their hair down and enjoy themselves.”

The research was carried out by the Cooperative Bank, and the research showed that the average consumer will spend around £549,000 on their cards on a Saturday over their lifetime. Around three quarters of the people polled as part of the research said that they thought they overspent on their credit cards at weekends. Industry professionals have been urging consumers to be more careful with their credit card spending for some time, as this can quickly lead to spiralling debt levels and can leave the consumers in a real mess with finances.

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Tags: credit card spending

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