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Financial firm wags finger, warns youngsters to watch gadget spending

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Keeping up with the Joneses has always been a traditional occupation for middle-aged Brits, but now younger people risk contracting “bling-itis” by trying to keep up with their friends’ gadget purchases.

A study by mobile banking firm Monilink of over 1500 people aged between 16 and 34 has found that 12 per cent consider buying gadgetry an essential, ahead of spending on home improvements, cars or jewellery.

Yes, we too tried to picture all those under-25s keenly trotting off every weekend to Ikea, B&Q, the Home Depot etc, and couldn't see it either.

Just over half of respondents - 56 per cent - said they bought gadgets in order to keep face because people are increasingly judged by their possessions.

A spokesman for Monilink said “Bling-itis is dangerous”, and warned young people to control their finances.

Which, we suppose, is a bit like warning an alcoholic to control his or her drinking, and about as likely to be heeded.

Mine's the one with the gold-plated 3G iPhone in the pocket...

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