Brits 'spend £21,000 in their lifetime on New Years resolutions'

Researchers say people follow three resolutions worth £109 a year for 64 years

A man going for a run

People in the UK spend a total of £21,000 on New Year’s resolutions over an average lifetime, according to researchers working for a phone company.

Gym memberships, new trainers, and health foods make up most of the expenditure, with nicotine gum and clothes also contributing.

Resolutions which are followed cost an average of £109, the researchers at TalkTalk said.

The company assumed that everyone makes three major New Year’s resolutions a year, and that they do this every year, from the age of 18 until 81.

The firm’s methodology does not appear to account for any lapses in these resolutions.

A quarter of those surveyed by the company said a New Year’s resolution had caused them to go “broke”.

Despite apparent the high average cost, around a fifth of the people say they undertake New Year’s resolutions in order to save money.

The researchers said small but recurring changes tended to lead to longer-lasting results than major attempts at an overhaul of one’s life.

Alice Beer, a consumer expert for ITV’s This Morning said: “If one of your resolutions is to cut your outgoing costs to boost your savings or disposable income then start with your recurring costs.

“Take a look at the bills that you pay month on month and make sure that you are getting the very best deal on the market.

“With that extra money in your pocket you can afford to splash out on little treats and still save a pretty penny.”