Many young Britons feel they have to splash out on expensive items in order to maintain their standing within their peer group, Alliance & Leicester has claimed.
The group explained that nearly a quarter (24 per cent) of 16 to 21-year-olds feel pressurised into buying expensive items such as designer sunglasses or accessories to improve their image.
Some 70 per cent of those questioned said they felt that their style was a prominent factor in how they were judged by their peers.
Commenting on the statistics, Andy Muddimer, current account manager at Alliance & Leicester, said: "While spending on clothes and accessories to keep up with your mates is important to this age-group, we would urge them to get savvy with their cash."
Elsewhere, parents were warned last month by Tesco that it was important to make sure they had adequate
home insurance protection during the summer break after it was revealed that teenagers were responsible for 250,000 accidents throughout the UK during this period.
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