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Spend less on gadgets and more on critical illness cover

Date: Tue, 02 May 2006

Brits are spending around £2.5 billion on fad gadgets, according to new research.

Price comparison website PriceRunner.co.uk estimates that many people are spending money on gifts, toys and gadgets that have a shelf-life of less than a month. The research discovered that video game consoles are the most unused gift, closely followed by the most expensive per use item – the ice cream maker. Meanwhile fondue sets rated second in both categories.

"It was interesting to spot that what people bought tended to fall into two camps – those which they used constantly such as televisions, mp3 players and kettles, therefore they get their monies worth and those buys where people quickly suffered from ‘new toy fatigue’ and these quickly found their way into the back of the cupboard," said Mattias Berg, UK manager of PriceRunner.

However, consumers should consider spending more money on vital financial products such as critical illness cover rather than expensive one-off items that have no long-term benefit.


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