£8bn Spending on Self-indulgent Treats

Shopping for ourselves accounted for £7.8 billion of credit card expenditure at the end of 2005, new figures from Morgan Stanley has revealed.

In the last quarter of 2005, UK consumers spent on average £166 on treats for themselves.

The survey of 2,000 UK adults showed twenty-somethings to be the most self-indulgent, spending on average 62 per cent of their credit card on personal shopping.

Women were revealed to be the most generous, spending more than men on family and children.

Under-twenties were the second biggest 'me' shoppers, indulging 57 per cent of their credit card spending on themselves.

Patrick Muir, MD for Morgan Stanley credit card said: "Despite reports of a quiet end to 2005 on the high street, our research shows that Britons still found time for the occasional self-indulgent purchase.

"Over the past few years we have observed a growing trend in using credit cards for making everyday purchases, but they also remain a popular way for people to treat themselves before pay day."