UK’s Spending Habits in 2013: Better? (Infographic)

Did you know why many people – including business people and entrepreneurs – drown themselves in bad debts? The answer is spending habits.

That’s right – spending habits are some of the most detrimental factors which can make or break your financial plan for the future (if you have any, that is.)

uk shopping habits
photo credit: John Goodman Fanclub Spain

In spending habits, your income level doesn’t really matter

Unlike what many people assume, making more money from a job or a business doesn’t mean you are well off. No matter how much money you have (or don’t have) your spending habits govern how you look in your financial rapport.

What’s in a financial rapport? Your income, expenses, assets and liabilities. Indeed, your financial rapport has very little to do with your academic and professional excellence. You can be a janitor but you can have better rapport than an accountant. How so?

Again, the answer lies in your spending habits.

You see, it’s only humane: When you make more money, you have more things you “need” to buy in your mind. Suddenly, what you can’t buy in the past can be bought today.

If you are not careful, the above can lead you into financial disasters, and quite possibly putting you into a deep trench of bad debts.

How bad are your spending habits?

Let’s take credit cards as an example; credit cards often come up as a “natural” solution to pay for your “must have” (read: Things you feel you must buy even if you can’t afford it) things.

Just put your purchases in a 12-month term, repay your loan plus interest, and you’ll be “alright,” no?

Well, not quite. When you are not careful, you can run out of your credit limit and eventually, you can trap yourself paying minimum balance plus a huge interest rate attached to it. This can lead you in bad debts; some of the worst of its kind.

And did you know what many people do when they are deep in bad debts? They are taking more debts to repay the existing debts.

Payday loans often come as an easy solution. But just like anything in this world, “easy” means there’s a catch: Payday loans are known as having very high interest rates.

Don’t get me wrong: Payday loans are a solution to some people; however, if you are not careful, you can drown yourself into a deeper debt.

And it’s not payday loan companies’ fault; it’s your fault, to be honest. Taking a loan is your decision; payday loans are just lending vehicles.

How bad things are

In the UK, things are as bad as in any part of the world. Let’s have a look at this interesting infographic. The Payday Loan Spending Habits infographic is released by It shows you an overview on how UK residents are spending their money on.

It’s a pretty infographic, but what’s inside is not really a pretty picture, you know what I mean?

uk spending habits infographic

Okay – it’s great to have disposable income. That means you are spending within your mean. However, not all spending within their mean.

Check this out: 50% of women and 45% of men admit treating themselves to something they can’t afford (tweet this!)

Naughty, naughty. Fortunately, things have changed – for the better.

Due to tough economy in the past decade, 4 out of 5 people in the UK are now more careful with their spending. They focus on saving for retirement, travelling or buying a house. Hopefully they don’t forget to budget for investing, too. On the positive side, some spending habit changes developed in the recession could be permanent.


Whether you are a stay at home mom/dad or an entrepreneur, you need to focus – and re-focus – on changing your spending habits. Just like the need for changing your eating habits as you grow older, changing your spending priorities can help you move toward financial independence.

The big question to answer is: Are you willing?