The rate in which we are going into debt to fund our obsession of doing home improvements to our homes is frightening and it has been estimated that we will run this up to the tune of £4 billion in the next 6months alone.

This has been discovered in a survey conducted by Sainsbury’s bank, who also put forward figures that the £4 billion mentioned is only part of the home improvement costs that will in total amount to £13.9 billion, in the same 6 months, with Yorkshire, Humberside and Scotland looking to improve their home more readily than any where else.

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If you require the means to do some painting and decorating, then a good idea is to shop around and find the right deal for you, a credit card with a introductory 0% interest rate for say 6 months, on all balance transfers and purchases, would be ideal if you use this for your home improvements and pay off your balance inside the introductory period. The lengths that we will go to obtain the money for our home improvements, are apparent when it is stated that over £3.5 billion of this is charged to, £2.8 billion will come about by re-mortgaging and overdrafts account for £1.9 billion of our debts, though it is said that women spend more of it than men.

As homeowners all over the kingdom make their homes into their own little palace, the banks, building society’s and credit card companies must have a special love of all things Changing Rooms, though it can also lead to friction amongst family and friends as of the total amount spent on up-grading our homes, £1.33 billion is borrowed from family and £265 million comes from friends, so make sure its paid back as quick as you can.

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