At least £100,000 needed to 'change your life'

Last updated at 14:38 29 May 2007


Almost two-thirds of Britons believe it would take a windfall of at least £100,000 to make a difference to their life, new research has indicated.

A survey by National Savings and Investments (NS&I) found that 62 per cent of UK adults think a six figure sum would be needed to have a tangible impact on their lifestyle.

Amid the rising cost of funding a lavish existence, one in ten respondents said a windfall of £2 million or more would be needed before they would really notice the difference.

At the other end of the scale, just 6 per cent of people would be satisfied with a £1,000 windfall, the survey of more than 2,000 people found.

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Men tended to be the greedier sex, with 67 per cent wanting more than £100,000 to improve their lifestyle compared to 58 per cent of women.

NS&I said the figures reflected a change in spending habits and expectations with more UK consumers regularly treating themselves to luxuries.

But rather than sparking a spending spree more Britons would use a windfall to get their bank balances back into the black, research found.

A fifth would use money to put their bank accounts into credit, with a further 14% using cash to move to a better home.

John Prout, sales director at NS&I, said: "When Premium Bonds were launched in 1957, £1,000 was a life changing amount and for many it meant security and a comfortable future.

"It is not surprising that the amount needed to have the same effect has shot up over the last 50 years.

"However, for a significant number, a windfall is now less about looking forward and more about a way to get back on track financially, and pay off past indulgences."

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