It’s fair to say Londoners like the finer things in life and in some instances are willing to pile up the debt just to accommodate their lifestyle.
It seems the American-inspired brunch boom taking over our weekends is now putting the squeeze on our bank accounts too. New research shows that those in the capital admit brunch, fitness trends, and beauty products are among the most common items they put on their credit card.
The research by Moneysupermarket revealed 40 per cent of Londoners with a credit card admit to dipping into debt to pay for brunch, compared with the national average of 28 per cent.
Nearly a fifth (19 per cent) of those living in the capital currently owe more than £10,000 - hopefully that’s not all down to their brunching habits.
Weekly brunch outings add up to more than £1,000 a year - that’s equivalent to a quarter of the average millennial’s disposable income.
“The rise of fitness and healthy eating means the cost of losing the pounds is costing pounds,” said Kevin Pratt, consumer affairs expert at MoneySuperMarket.