Music costs thousands, says the Pru

20 October 2005
Britons spend £21,000 of their savings on CDs, stereos, music magazines and concerts over their lifetime, accoring to a new survey from Prudential.

And that's only for the average music lover.

Music fanatics who buy hi-tech speakers and stereos, follow their favourite bands and go to gigs, can expect to spend up to around £44,000 during their lifetime.

A spokesperson for Prudential said: "I wonder if people take this into account when they plan their finances. My suspicion is that they don’t because it is not seen as one of the big set-costs like a mortgage or bills or food.

"However, we can see that people spend a significant amount of money on it."

Prudential found that diehard music fans own over £1,400 worth of pricey equipment and spend £887.37 on new music every year.

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