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Bling And Buy Says The Money Shop
• Half (49 per cent) are selling off the family jewels in cash crisis
• Two thirds (62 per cent) dread the sound of bills landing on the mat
• One in ten (12 per cent) admit to hocking precious items to feed the family
• A fifth (20 per cent) struggle thanks to ‘kidults' staying home longer
Fools Gold? Hardly, a savvy 49 per cent of cash-strapped consumers are managing to stay afloat as the recession tightens its grip on the nation, by selling off unwanted gold and jewellery.
With almost half (42 per cent) of the UK feeling worse off than they did three months ago and more than one in three (35 per cent) anticipating that the summer will bring further financial woes, it's no surprise to see consumers digging deep to find alternative ways to raise extra dosh.
Affording rising utility costs and basic living costs continues to cause consumers the most sleepless nights with two thirds (62 per cent) fearing having to tot up the household bills every month. One in ten (12 per cent) even admit that they are selling gold and unwanted bling to help pay for essentials such as food and bills.
According to The Money Shop Monitor - a quarterly barometer of the nation's cash related habits - the rise in the number of ‘kidults' staying home longer to conserve money is impacting a fifth (20 per cent) of consumers who are feeling the strain of the mounting costs of raising and supporting a family.
To survive the recession and get fast access to cash to meet unexpected bills and increasing living costs, one in ten (12 per cent) would now consider selling gold bought for them as a gift and a determined 3 per cent are even dredging through the jewellery box for broken gold and jewellery to sell or pawn.
Andrew Bryan of The Money Shop, the UK's leading instant cash provider said: "With the price of gold at an all time high and the increased availability of outlets such as the new Gold to Cash Direct Service from The Money Shop network of stores and online, there's never been a better time to sift through the household clutter to try unearth a golden nugget or two.
"Often consumers turn to their jewellery box as a last resort as parting with things of high sentimental value can be hard. However, in these difficult financial times, it's wise to look for alternative ways of raising cash and selling unwanted gold could help with the ever-increasing worry of affording living expenses and unexpected bills."
Perhaps the 30 per cent of consumers who blame the recession for their declining social lives should kill two birds with one stone and take a (gold) leaf out of the books of our American friends, with their newfound love of ‘Gold parties'. Guests bring unwanted bling and sell it. Gold, it would seem, is the new Tupperware!
Additional tips to creating your own goldmine include:
• Searching for broken items such as chains and earrings
• Clubbing together as a family to cash in big
• Checking down the back of the sofa for more than dusty old pennies
• Hosting your own ‘Gold party'
• Spring cleaning old boxes and drawers for long-forgotten gifts
As a third (31 per cent) of workers claim they are underpaid and the looming threat of job losses increases for a further third (29 per cent), raiding existing assets for fast cash provides the perfect solution. Be careful though not to offend the 10 per cent who confess that they would be disappointed to find an item they've lovingly selected and bought is sold for cash!
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| At the Money Shop we believe that you should get your hands on cash when you need it. So why wait? We offer a fast, friendly and confidential service with the best deals around. For instant cash, come to the leading cheque cashing company in the UK. We are the UK's No.1 for Cheque Cashing, Payday Loans (Cash 'til Payday) and Cash Loans. We have over 450 Stores across the UK. Call in today! |
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