You are here: Home - Saving & Banking - News -

Brits spend millions on lunch daily

0
Written by:
04/04/2008

The old adage of ‘there’s no such thing as a free lunch’ certainly rings true as research reveals that the British workforce spends a staggering £162m on lunch every day. 

Research released by The Co-operative Insurance Personal Pensions shows that each person spends an average of £5.50 per day, which equates to £1,265 per year or £50,600 in a lifetime.

Additionally, the research shows that only 29% of the 3,200 people questioned take a packed lunch to work with them. Two-fifths of the British workforce purchase their lunch from the local supermarket while one in seven prefer to stay close to the grindstone and visit the staff canteen.

What’s more, 12% get their lunchtime fix from a sandwich bar with only 4% choosing to go for the fast food option, which is good news for the nation’s ever-expanding waistline.

And when it comes to the daily lunchtime fix it seems less a case of bringing home the bacon than taking the bacon to work as official statistics show that the Great British favourite is a BLT sandwich with a banana and a packet of crisps washed down with a café latte. If everybody took the time to make their own BLT sandwich at home and substituted the expensive caffeine option for water, they could save £4.36 every day which equates a total saving of over £1,000 per year.

Danny Hurley, head of pensions at The Co-operative Insurance, said: “Like most people in the rat race who cannot get through the day without a cafe latte and the luxury of strolling down to the nearest delicatessen for their favourite lunchtime treat, getting up earlier to make sandwiches isn’t easy to digest and just doesn’t sit well with the lifestyle of today’s generation of blue collar workers.

“However people may not realise that by being a little bit more savvy with simple things like making their sandwiches at home which is as easy as pie, they could be £13,800 better off per year when it comes to retirement.”

 

 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
2008 first quarter fund performance

The first quarter of 2008 saw equity funds suffer, in particular those in India and China, according to MorningStar.

Close