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28 December 2005
Credit and debit card use is expected to continue its upward trend in 2006, according to figures released late last week - and the country as a whole should see an increased number of wealthy individuals capable of splashing their cash.
Datamonitor predicts that over £500 billion will be shelled out using plastic cards next year, and the good news is that personal debt looks unlikely to experience a huge increase correspondingly.
The 4.1 per cent rise expected would represent the lowest figure of the past decade, and the first time in this period that debt levels have increased by a level of under six per cent.
The number of rich Brits is expected to rise significantly, with over a million people expected to have more than £200,000 in the bank - properties and land excluded.
Already-wealthy individuals are expected to see their worth rise, too, with high-net-worth individuals expected to have ready access to a total of £629 billion over the course of 2006.
This increased affluence, allied with the apparent switching-on to the seriousness of debt, suggests that consumer finances may be about to experience the start of a timely upturn as the new year develops.
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