Keeping up with the Joneses

Despite feigning disinterest, it seems that people are still trying to impress on others that they are wealthier or 'better off' by spending a premium on designer clothing, 'bling' jewellery or watches.

A third of people also said that they behaved differently around those they thought were wealthier than they were - and often felt obliged to "match" their spending.

Jim Hodgkins, managing director of CreditExpert.co.uk, explains: "The desire to keep up with friends isn't new and there is always a temptation to use credit to do so.

"But using credit to fund a lifestyle you can't really afford can lead to huge financial problems and if you don't keep tight control of your spending and how much you're borrowing, you can easily find you can't afford the payments and start to fall behind with them."

April 17^th 2008

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