Britons are more likely to spend money in the pub than they are to save, research revealed today.

Six out of ten Britons regularly spend money in the pub or on alcohol, getting through an average of £60.56 a month while 30 per cent of people spend about £63.87 on cigarettes.

But only one in two people say they save money on a monthly basis, with 44% of people putting away less than £50, according to the study commissioned by Birmingham Midshires.

People are also more likely to spend money on junk food than they are to save it, with 89% of those questioned admitting they spend around £27.53 on snacks such as pizza and chips each month.

However, Britons are also reluctant to spend their cash on health and fitness, with just 28% regularly spending money on keeping fit, averaging just £28.60 a month.

Tim Hague, head of savings and investments at Birmingham Midshires, said: "Our lifestyles could be a key factor detrimentally affecting our ability to save.

"An example of this is that an apparent pub culture could be limiting young people's savings habit. The positive difference of making a few simple spending cutbacks can't be underestimated.

"We expect people to enjoy themselves, but it appears Britons are leading rock and roll lifestyles, focusing more and more on spending rather than saving."

Monday March 10 2003