Credit Card News Morgan Stanley Finds Credit Cards Help Brits Shed The Pounds 8523331

Morgan Stanley finds credit cards help Brits shed the pounds

18 May 2005
As summer approaches, British people are spending millions on losing weight, with the cost of losing 1lb in weight estimated at £4.

The latest findings from Morgan Stanley Consumer Banking reveals that Brits will collectively invest £874 million in attaining the body beautiful this spring and summer, working out as about £50 per person.

Women will spend the most on shaping up and shedding excess pounds, spending an average of £59 per month each, whilst men invest an average of £35, Morgan Stanley found.

Exercise is likely to be the most popular means of getting in shape, accounting for 72 per cent of the weight loss spend, with gym memberships costing the average weight-conscious Brit £35 a month.

“It is worth thinking about how we can be clever about spending in the run-up to summer, for example paying for your gym membership on a credit card with cashback, so you can gain some pounds in your wallet to put towards a summer break,” comments Patrick Muir, marketing director at Morgan Stanley Consumer Banking.

Londoners, unsurprisingly, are expected to spend the most on weight loss measures, at £82 a month, whilst those in the north-east are likely to be able to lose the extra pounds for the more reasonable sum of £23.

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Written by Editorial Team