Alliance & Leicester Savings & Investments finds Brits love treats

Britons love spending their cash on treats, even though over a third say they can't afford to save.

The 'can't go without' culture being practiced across the UK is strongest in the 20-something generation but also extends to older Britons.

Of those surveyed by Alliance & Leicester Savings & Investments, over five per cent said they bought a hot drink at least once a day while six per cent said they caught a cab when they could have used public transport.

Mike Woodward of Alliance & Leicester, said: "Perceptions of what we need to buy versus what we could cut back on have been influenced by our busy working lives and a sense of urgency and immediacy that is compounded by the growing use of phrases like 'you only live once'."

Furthermore, 22 per cent of consumers said they weren't prepared to cut back at all on their spending and 15 per cent claimed they planned to save at some point in the future.

"It's important that people continue to enjoy themselves, but perhaps consider if they could make some minor changes to their lifestyle, as it's clear from our research that the savings could really add up," Mr Woodward concluded.