Stingy with money? That’s a Scots myth

IT is often said that Scots have a reputation for being mean when it comes to spending cash.

But it appears it is necessary to look south of the Border for those who are tightest with their money.

In a top ten of the UK’s stingiest cities, Edinburgh and Glasgow rank seventh and tenth respectively.

In Edinburgh 27 per cent of people say they are careful about spending, while in Glasgow, the total is 25 per cent.

But in top-placed Leeds, Yorkshire, 36 per cent like to keep a tight grip of the purse strings, followed by Sheffield, Cambridge, Plymouth, Nottingham and Bristol. Across the UK, 41 per cent of people like to save for a rainy day.

A total of 37 per cent said they feel racked with guilt if they buy something purely for themselves.

However, once they have taken the plunge, 11 per cent of Britons said they get a buzz when treating themselves.

The poll found the average person will spend almost a year of their adult life making decisions about spending money.

Behavioural psychologist Donna Dawson – who was involved in the research by Checkout.com – said: ‘Britain is still influenced by the Protestant work ethic – work hard, save money and put others before yourself.

‘Very British expressions such as “saving for a rainy day” and “look after the pennies and the pounds will look after themselves” all reinforce our need to be careful with money, and increase our anxiety about parting with it.’

‘We may even feel guilty about spending money on ourselves – it smacks of selfcentredness, and there is an irrational, subconscious fear that attracting attention to ourselves through a new purchase could bring us bad luck or loss.’