Debt is the new fat?
Published On 26 February 2007
Figures for credit card spending suggest that women are more concerned with the size of their waistlines than with the size of their debts, suggests new research.Data from uSwitch reveals that female shopaholics have each accrued a debt of £8,092.97 through their retail spend.
This means they owe a total of £11 billion on their credit cards, with overdraft debts at a figure of £4.6 billion.
Ann Robinson, director of consumer policy at uSwitch, commented: "Fat used to be a feminist issue, but it looks like it's been overtaken by debt.
"In today's celebrity obsessed society, where women emulate the lifestyles and shopping habits of their favourite fashionistas, it's not surprising that women are becoming more interested in size zero than zero per cent APR."
The research also found that women owe about £20 billion in unsecured loans and that the average overdraft debt in the UK is £515, with a third relying on overdrafts each month.
In related news, research from the Debt Counsellors has found that UK personal debt is increasing by £1 million every four minutes.
