Saturday is the most expensive day of the week for many Britons, according to new research, with the average expenditure reaching £175 - some of which could be paid for by credit cards.

The Co-operative Bank Credit Cards has suggested that over the course of a lifetime, the average Briton will spend £549,000 on first day of the weekend.

According to the study, 72 per cent of people admitted to spending more than they had budgeted for over the course of a weekend.

And 36 per cent said they felt guilty about their expenditure on Mondays.

Product manager at the credit cards division of the Co-operative Bank Maxine Xodo said that many people like to "let their hair down" at the weekend as UK employees work some of the longest hours in Europe.

However, she advised: "It is important for people to keep tabs on their spending so it doesn’t come as a shock when their bills come through the door."

Personal finance writer Cliff D'Arcy recently suggested that overspending - not debt - is the real problem for many people struggling with their finances.


© Adfero Ltd