Brits spend over £70k on nights out with friends throughout adulthood

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  • We didn't even know we had that much money, TBH

    The saying goes that money can’t buy you happiness, but science recently proved otherwise – at the cost of once small catch.

    Apparently us Brits will spend an average of £150k over a lifetime on social events – money we didn’t even know we had, if we’re being totally honest.

    The research was conducted by Barclays bank and found that we attend an estimated (and rather shocking) 3,239 social engagements during our adult life. These include 1,975 nights out with friends, around 1,105 work events and over 150 birthday parties.

    Of course, it’s also worth remembering that if you’re single all of this is probably setting you back a hell of a lot more as it was recently revealed being single is costing you thousands of pounds a year.

    The biggest drain on our bank balances appears to be going on nights out with friends, which is estimated to cost us over £70,000 in a lifetime (ouch).

    Clare Francis, the savings and investments director at Barclays, said: ‘Social occasions can be a considerable drain on your finances and if you’re not careful, the cost can get out of control.

    ‘There is a tendency among Brits to spend a lot of money when they go out with friends, but it’s not always necessary.’

    So where else is our money going? Well during out lifetime we’ll spend a tidy £27,000 just on taxis for social purposes, another £4,000 on friend’s parties, £7,000 on gifts for friends (at least we’re being generous, hey)  and around £3,000 on holidays.

    Maybe we should start cutting back on the costs after all?

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