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No. 452513
Anonymous
15th July 2022 Friday 7:25 am
452513

>Claire Yaxley owes her mother thousands of pounds, but has still splashed out recently on a Fitbit, an exercise bike and a trip to Butlins. "Things are getting more difficult every single day," the single mum-of-two admitted. "And yet I'm not putting money aside, I am spending it."
>New research seen by the BBC suggests 25% of people are similarly stretched, but reluctant to stop spending. The Grant Thornton and Retail Economics report surveyed 2,000 UK adults.
>Ms Yaxley, who lives near Norwich with her daughters Pearl, nine, and six-year-old Tallulah, earns around £16,000 a year through various jobs in the education sector. She has borrowed £6,000 from her mother to help make ends meet, and knows that she should be trying to pay her back, in addition to saving a bit every month given the rising cost of living. But she said this rarely happens, because she's prioritising spending on treats for her family after a tough few years during the pandemic.
>That has included spending £100 on a foldable exercise bike and £430 on a weekend trip to Butlins holiday resort over the school holidays. Ms Yaxley said she does feel "guilty" for spending on non-essential items, particularly given the rising cost of petrol and food. But after two years of Covid restrictions, she feels like the family deserves it.
>Joseph Hussain, a paralegal and student from London, recently spent £300 on rare vinyl which, he admits, "I didn't really need". The 27-year-old, who earns £27,000, sets himself a monthly allowance but said this quickly goes on petrol, food and other essential items. So he turns to credit cards and buy-now-pay-later companies to fund purchases, which recently included a whole new wardrobe, a Lego bouquet, video games.
>"I can't really describe it, I think you just get into this mindset of, well, 'I've already spent so much this month, so I have permission to spend a bit more'," he said. Joseph admitted he does question whether he should be spending on these items, given the soaring cost of living but doesn't want to miss out on things that bring him joy.
>"There's no way on earth I need these plastic Lego flowers or stuff like that, it's just that I very much enjoy them, they make me happy and therefore that's my philosophy in general," he said.
https://www.bbc.co.uk/news/business-62148525
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