Many Brits are neglecting their savings and spending more and more just to emulate the lifestyles of their favourite celebrities.

London (shakespearefinance) July 21, 2007: If you save less for your difficult times, you may have to depend more on loans and other external sources of borrowing money. And, that is what is really happening.

A report by Fidelity International suggests that the desire to emulate the way famous people live has influenced many of those on relatively modest incomes to spend lavishly.

People are imitating the celebrities by spending money on designer clothes, staying in hotels and eating in expensive restaurants.

The wide and easy availability of personal loans across the UK is also adversely affecting the saving habits of the Brits. They think that any shortage can be easily met with personal loans.

Simon Fraser, president of institutional business at Fidelity International, said: "It all comes down to choices; live for the now and cope with old age poverty when it hits or make a few lifestyle tweaks based on the possibility of living until we are 100."


Visit:- Homeowner Loans