Home Buyers: A new study from ING Direct reveals that whilst men overspend on cars, mobile phones and nights out, women are more likely to go over budget on holidays and home improvements.
Home Buyers: Research shows that although people often budgeted around £5,489 for home improvements they overspent by £1,905, or 34%.
Home buyers budget £120,000 for a new home but on average overspend by £17,000, or 14% of their planned savings. To help couples replenish their savings after such a spending shock ING Direct is asking people to recreate their own “airbag moment”, at http://uk.msn.com/ for their chance to win a cash prize of £1,000. ING Direct CEO Johan de Wit said: “Life is full of surprises, which can often cost us more than we expect. Having savings in place are a good way to cushion you against whatever life may throw at you. “To help people achieve their savings goals, next week we’re inviting people to create their own ‘airbag’ moment on MSN.com for the chance to win money to replenish your savings.”