Credit Card Firm Reveals How Much Brits Spend On Furnishings

Brits are spending up to 70% more on furnishing their homes than ten years ago, according to new figures.

The figures released by Halifax Credit Cards, show that UK consumers, on average, spend £531 a year on furniture and other household items. The figures also revealed that in 2005 UK consumers spent a total of £13.5bn on new purchases for the home, with credit cards playing a prominent role in major household purchases such as sofas and kitchen furniture.

Figures from 1995 show that UK residents spent £7.3bn – an average of £312 a week on furnishings and furniture.

However, with many Britons relying on credit to pay for large household items, there are concerns that many are paying over the odds as they trade off instant credit for the best product price.

Ken Stannard, head of Halifax Credit Cards, said: "when it comes to furnishings, we all love filling our homes with creature comforts but this shouldn't leave you with empty pockets or paying high interest months after."

Mr Stannard advised that using a credit card that offers 0% on purchases would enable consumers to make large household purchases without accruing interest for months. With the UK credit card market being extremely competitive there are a plethora of 0% deals out there that would allow for that big-ticket purchase to be repaid without having to pay interest.

Currently there many credit cards in the UK that offer 0% on purchases, as well as balance transfers, for up to 12 months, making that leather sofa a little more affordable. However, before making any large furniture purchases, make sure it is right for you, as they tend to be a large expense.

Tom Smith
19th April 2007

More Information:

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• Top Tips On How Not To Succumb To Plastic Fever
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