Over half of the UK population intend to borrow money in the coming year, with almost one-quarter admitting they would happily borrow up to £20,000 without worrying about it, according to an Abbey research.
Latest data from the Glasgow-based provider reveals 53% of Britons will be borrowing an average £3,997 in the next twelve months, with 24% saying they would not even lose a wink of sleep if they were to borrow five times that amount.
Some 28% plan to use their credit cards to cover the cost, and 20% will consider going in the red on their current account in order to access additional cash. Despite low interest rates and growing house prices, however, only one in ten would re-mortgage the homes to gain some extra money.
The 'carpe diem' attitude seems prevalent among the UK population with 25% of those surveyed saying they would borrow money to be able to afford their dream holiday, with only 6% borrowing money towards a deposit for a house.
Worryingly, almost just as many Britons (4%) are planning to undergo cosmetic surgery with their extra cash.
Angus Porter, customer director at Abbey, says: "We are borrowing more today than ever before, but we have more control over our finances than past generations."
"We live in a 'have it all' society and people are more comfortable about borrowing to achieve what they want, rather than only doing so when they feel there is no other option."
Judging by nationality, the Scots are - contrary to common belief - the ones most likely to borrow money, as they are expected to mount up an average of £6,915 in debt, compared with the more cautious Welsh who only would borrow an average £2,310.IFAonline
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