A Third of Britons Suffering from 'Salary Dysmorphia' and Overspending by £30 Billion a Year

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Lending Stream research shows Britons are overspending by a staggering £30billion each year

According to research from short- term loans company, Lending Stream, a third of Brits (33 per cent) admit to suffering from ‘salary dysmorphia’, which is the problem of spending more than they earn each month.

The research from the short- term loans company shows that those who admit to going over their monthly budget overspend by an average of £265 for more than seven months of the year. This equates to a worrying £1,858 per person.

When asked why they overspend each month, more than a quarter (27 per cent) of people say that it is due to unforeseen expenditures such as their car breaking down, emergency dental work or needing to replace a broken household appliance. Lending Stream advises that for such unforeseen expenditures, short term loans, a substitute to payday loans, can be a good way of stemming the tide of additional expense.

Lending Stream short term loans could be availed online so as to get the money transferred to your account safely on the same day. Lending Stream’s average short term loan amount is £200. However, short- term loans can be offered at amounts between £80 and £720.

A short- term loan provided by Lending Stream, unlike other payday loans, can be paid back anytime over a period of six months. This allows the borrower more time to pay back the short- term loan back comfortably without upsetting their monthly budget.

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