With many thousands of people across the country looking to find a debt solution, close to half admit to owning an expensive item of clothing that rarely leaves their wardrobe.
In addition, the latest figures show that the typical UK consumer has spent almost £3,700 on unwanted goods and the nation as a whole has paid out as much as £169 billion on what Abbey calls “pointless purchases”.
Reza Attar Zadeh, head of savings at Abbey, said: “It seems that the majority of Brits aren’t making their assets work hard enough for them.
“With 64 per cent of UK adults having bought a big ticket ‘pointless purchase’, we’d recommend that people consider carefully where they are investing their hard earned cash.”
Earlier this week, a report from Abbey suggested British consumers often spend hundreds and even thousands of pounds on repairing damage caused by careless builders.