According to new research from Lloyds TSB, guilt-ridden Britons spend £736 million a year on last-minute presents.

Consumers spend a surprising average of £120 on a birthday present for a loved one and those that leave it until the last minute spend extra to compensate, according to the bank.

Last-minute presents cost an average of 13 per cent more and late presents an average of 14 per cent more, in an attempt to make up for the delay, according to Lloyds TSB.

Furthermore, a quarter of those surveyed said that they spent more money on a present as a result of feeling they had disappointed the recipient.

For many people, buying presents is an expensive outlaying particularly around Christmas time with the average online shopper spending £269 on Christmas presents alone.

Some people may find that an any purpose loan can give them the extra time needed to find the money for Christmas presents and help manage their finances.

Posted by: Peter Kudela
Date: 30th October 2006