Women run up big beauty bill, but don't think about onset of wrinkles
18 October 2007
Women spend an average of £180,000 in a lifetime on keeping themselves looking beautiful, without thinking about saving for their retirement, it has been revealed.
According to a study by Co-operative Insurance (CIS), the average 30-year-old woman spends a whopping £253 per month on lotions, potions, make-up, cosmetics and gym membership to maintain the body beautiful.
With the average earnings of women currently at £1,548 CIS warns that young people, particularly young women, must try to curb their beauty spending habits if their budget cannot stretch to it and to consider putting the cash in a pension fund instead.
Danny Hurley, head of pensions at CIS said: "The issue of how under-pensioned people in this country are is paramount and women in particular should be thinking about their financial future far more seriously and not just have the 'live for today' attitude.
"Simply by making sensible contributions into a pension, image-conscious ladies will be able to sustain their beauty regime in the future and have plenty of money left over."
He added: "For young people with no dependents, retirement and saving for the future may not be a priority, but these people are in a better position to begin saving than those who have other commitments such as a mortgage or bringing up a family."
